Initial Coin Offering in Malta

Are you interested in an Initial Coin Offering in Malta? We invite you to explore this article and discover the key features of ICOs in Malta, plus information about the main registration requirements. Our Maltese lawyers are at the disposal of international and local customers interested in launching ICOs.

What is an initial coin offering?

An initial coin offering is a method of fundraising through the sale of digital tokens in exchange for cryptocurrency. This method is often used by startups. In this sense, it is drawn up in a white paper with details about the project & tokens. Those interested in ICOs in Malta can choose utility tokens or security tokens.

What is the transition to MiCA?

According to European Union standards and more specifically the Markets in Crypto-Assets Regulation (MiCA), offerors of crypto-assets in Malta must draw up a crypto-asset white paper and notify it to the MFSA, while firms providing crypto-asset services must be authorised as Crypto-Asset Service Providers (CASPs). The former VFA agent role was abolished in 2024, and the VFA Act transitional regime ended on 30 June 2026.

Who supervises ICOs in Malta?

The Malta Financial Services Authority (MFSA) is the main regulatory body/agency that supervises financial activities involving digital currency, including initial coin offerings.

What mandatory test is imposed on ICOs in Malta?

There are specific tests to determine whether a token issued in Malta is a crypto-asset under MiCA, a financial instrument under MiFID II, or falls outside both (the former VFA 'Financial Instrument Test' belonged to the pre-MiCA regime). This helps ICOs launch in Malta.

Is AML required to launch ICOs in Malta?

Yes, implementing Anti-Money Laundering policies is mandatory for ICO issuers in Malta. In this sense, an Anti-Money Laundering Reporting Officer with qualifications and competencies in the field is needed.

What to focus on when you want to launch ICOs in Malta?

Launching ICOs in Malta must have a solid plan first of all. Owners/investors must detail the products or projects for which they want to raise funds. In this sense, detailed information about the team they are working with, partners, and even an official website can help.

What other requirements are imposed for ICOs in Malta?

Before registering the application for launching ICOs in Malta, a meeting/interview with MFSA representatives will be requested. The application documents must be signed by the board of directors. Copies of the last 3 years of audited financial statements, as the case may be, will also be requested. We invite you to watch our video on ICOs in Malta:

How much is the whitepaper annual supervisory fee in Malta?

EUR 2,000 is the whitepaper annual supervisory fee in Malta. As for the registration fee, it is almost EUR 8,000, but this type of information can be accessed at the time of preparation of the documents, with the help of our Maltese lawyers.

How can ICOs be presented in Malta?

Launching an ICO in Malta solicits complete attention to the security systems that need to be implemented on the website in order to protect your clients from scams, phishing, or related fraud. A solid PR and marketing plan will have to be developed at the time the ICO is launched. There are a few facts to consider when presenting Maltese ICOs:

• the project must be created and presented in a professional manner;
• a video presentation with the description of the ICO is necessary on your website;
• the subscription form must be appropriate and accessible to future clients;
• the legal white paper and all the terms and conditions need to be presented online.

How to create and sell virtual currencies in Malta

Foreign and local investors who want to issue initial coin offerings in Malta must first set up companies and then create and market the digital tokens they want to sell. ICOs in Malta can be traded as financial instruments or can be sold in exchange for shares in a company, which is why, in certain cases, the regulations apply just like in the case of investment funds. These rules imply:

• the manager organizing the ICO must have sufficient knowledge and experience with ICOs;
• the company must issue a warning prospect related to the risks of purchasing digital tokens;
• a verification of the risks related to the issuance of the initial coin offering;
• an evaluation of the company issuing the virtual currency.

For assistance in setting up a company for the issuance of ICOs, please contact our Maltese lawyers.