MFSA Directs CASPs To Create EU/EEA-Specific Website Sections

Malta’s financial regulator has instructed crypto-asset service providers (CASPs) licensed in the country to set up clear and separate sections on their websites for clients from the EU and EEA. These dedicated pages must outline which services are available to those users and clearly disclose any services that are not, ensuring transparency and regulatory compliance.

This rule came after the Malta Financial Services Authority (MFSA) checked the websites of all local CASPs that follow the Markets in Crypto-Assets Regulation (MiCA) rules across Europe.

MFSA Urges Clearer Communication From Crypto Firms Following Website Review

The MFSA noticed some of these companies, especially those that are part of big international groups, have websites that are hard to understand and navigate. These websites also show content aimed at different countries all mixed together.

Sarah Pulis, who leads Conduct Supervision at the MFSA, said all CASPs must keep their websites clear and easy to understand. She explained that companies should show correct and simple information about their services and make sure all important details are easy to find.

Many well-known crypto firms, like Gemini, Crypto.com, and OKX, have picked Malta as their main location for working under the MiCA rules in Europe. The MFSA’s website checks are part of a plan to keep customers safe by making sure company websites follow MiCA rules, especially about honesty, fairness, and clarity.

Christopher Buttigieg, the MFSA’s Chief Officer for Supervision, said by checking these websites early, the authority is making sure companies give clear and fair messages to users and meet what customers expect from them.

Crypto Firms Expand In Europe With MiFID II Licenses And MiCA Compliance

At the same time, some crypto companies are also getting licenses under traditional European rules, known as MiFID II, to offer crypto derivatives in the region. Kraken, Coinbase, and Crypto.com got these licenses by buying Cyprus-based firms that already had the right approvals. Gemini also got a MiFID II license, but through Malta.

Kraken is already offering crypto perpetuals in the EU under its Cyprus license. Crypto.com plans to start offering CFDs later. Coinbase hasn’t revealed its product plans yet, but its approved website shows it might offer crypto perpetuals for large investors.

Under MiCA, CASPs are businesses that offer crypto services like trading, keeping, or issuing crypto-assets in a professional way. They must be officially approved and are regularly checked. Examples include crypto exchanges, wallet companies, and platforms where people can trade crypto-assets.