The Malta Financial Services Authority (MFSA) published the results of a review of websites operated by Malta-licensed Crypto-Asset Service Providers (CASPs) to check alignment with the Markets in Crypto-Assets Regulation (MiCA), which entered into force in December 2024. Covering all CASP websites for firms that had started operating as at 17 March 2025, the exercise identified recurring shortcomings in the clarity, accuracy and fairness of client-facing information and set expectations for immediate remediation. The MFSA found issues with the prominence and accuracy of licensing statements, the clarity and visibility of risk disclosures, and ambiguous wording such as references to “trading” or “buy stocks” that could suggest investment services beyond the CASP licence scope. It also observed promotion of unregulated services such as NFTs or staking without adequate disclaimers, and potential under-disclosure of conflicts of interest. Marketing practices were reviewed as well, including reward-based promotions, with the MFSA stressing that incentives must not compromise fair and transparent communication; for global firms with complex site structures, EU/EEA clients should be directed to a dedicated website with EU/EEA-specific information and clear disclosures for offerings not available in those jurisdictions. Findings and expectations were communicated via a dedicated letter to licence holders, and the MFSA said it will continue to monitor CASP websites and engage with firms to address the identified gaps.

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