Crypto-Asset Services Provider (CASP) Licensing in Malta

By Kelly Fenech, Founding Partner

GKF Legal

September 2025

Meta Description: Expert legal guidance for CASP licensing in Malta. GKF Legal offers comprehensive support for MiCAR compliance, corporate governance, and operational readiness in a leading EU fintech hub.

Introduction

The crypto-asset sector is reshaping global finance, presenting unrivalled opportunities alongside complex regulatory demands. Malta, a pioneer in fintech regulation, has established itself as a leading jurisdiction for securing a Crypto-Asset Services Provider (CASP) licence under the EU’s Markets in Crypto-Assets Regulation (MiCAR). At GKF Legal, we provide bespoke legal services to guide clients through the intricacies of obtaining and maintaining a CASP licence, ensuring compliance with Maltese and EU frameworks whilst maximising business potential.

From crypto exchanges to custody providers, our expertise empowers businesses to thrive in Malta’s vibrant fintech ecosystem, home to industry leaders such as Gemini Intergalactic EU, Ltd. and OKCoin Europe Ltd., both fully authorised CASPs. Contact our experts to start your journey.

Why Malta is Ideal for CASPs

Malta’s unique blend of a mature regulatory environment, advantageous tax treatment, and business-friendly policies makes it a top destination for crypto ventures. With over 300 days of sunshine annually, it’s not just the climate that’s appealing—Malta’s infrastructure is purpose-built for fintech success.

A Regulatory Pioneer

As the first country to implement a comprehensive crypto-asset framework, Malta offers two distinct advantages:

• Clarity and Legal Certainty: Malta provided regulatory guidance well before the EU finalised MiCAR in June 2023, giving businesses a stable foundation. Its framework significantly influenced MiCAR, ensuring alignment with EU standards.
• Proven Expertise: With over a decade of experience, Malta has regulated major players like Gemini Intergalactic EU, Ltd. and OKCoin Europe Ltd. This track record fosters a robust network of lawyers, accountants, compliance specialists, and IT professionals, all conducting business in English, one of Malta’s official languages alongside Maltese, eliminating language barriers.

Malta is also a hub for e-commerce and iGaming, industries that drive demand for payment services. The iGaming sector, contributing 12% to Malta’s GDP with 300 licenced firms and hosting the prestigious SiGMA Summit, creates a fertile market for crypto and payment startups.

Tax Efficiency

Malta’s corporate tax structure is uniquely advantageous:

• Effective 5% Tax Rate: Whilst the standard corporate tax rate is 35%, non-resident or non-domiciled beneficial owners receive a 30% tax refund on dividends, reducing the effective rate to 5%—the lowest in the EU.
• Double Taxation Treaties: Malta’s agreements with over 80 countries ensure compliance with ‘subject to tax’ regulations, minimising tax liabilities for international businesses.

Learn more about Malta as a Fintech Hub

CASP Services Under MiCAR

MiCAR outlines a broad scope of activities for CASPs, each requiring tailored compliance:

• Execution and reception of client orders
• Placement of crypto-assets
• Exchange of crypto-assets for fiat or other crypto-assets
• Custody, administration, and portfolio management
• Advisory services and operation of trading platforms

Licence Classes

Class	Services Covered
Class 1	Basic transactional and advisory services
Class 2	Class 1 services + custody and exchange services
Class 3	Full trading platform operations

Explore CASP Licence Classes

Regulatory Requirements for CASPs

Securing a CASP licence in Malta involves meeting stringent standards set by the Malta Financial Services Authority (MFSA) and MiCAR:

• Fit & Proper Assessment: Key management and shareholders must demonstrate integrity, competence, and financial soundness through rigorous checks.
• Local Presence: A Maltese-registered company with a physical office and local staff is required.
• Board Governance: At least three directors, including an independent non-executive and a local executive director, to ensure robust oversight.
• Key Function Holders: Independent Compliance Officer, Money Laundering Reporting Officer (MLRO), Risk Officer, and Internal Auditor roles.
• Client Fund Safeguarding: Mandatory segregation of client funds and assets, with regular audits.
• Capital Requirements: €50,000 to €150,000, based on the licence class, to ensure financial stability.
• Reporting Obligations: Quarterly and annual reports to the MFSA, including financial audits and IT compliance aligned with the Digital Operational Resilience Act (DORA).

Consult on Regulatory Compliance

How GKF Legal Supports CASPs

GKF Legal provides end-to-end support to navigate the complexities of CASP licensing and operations in Malta:

1. Licensing & Corporate Governance

• Preparing and submitting MFSA licence applications
• Drafting programmes of operations and structuring corporate entities
• Establishing board governance, shareholder agreements, and key function appointments

2. Compliance & Risk Management

• Developing AML/CFT programmes aligned with MiCAR and EU AMLD
• Implementing internal controls, regulatory reporting, and audit frameworks
• Providing staff and board training on compliance obligations

3. Operational Readiness

• Advising on IT infrastructure, cybersecurity, and business continuity
• Crafting crisis management strategies to mitigate risks
• Supporting recruitment of senior management (CEO, CFO, CTO)

4. Data Protection & GDPR Compliance

• Conducting Data Protection Impact Assessments (DPIAs) and audits
• Offering ongoing Data Protection Officer (DPO) support and regulatory liaison
• Managing data breach remediation under GDPR

Why Choose GKF Legal?

Malta’s regulatory and economic advantages create unmatched opportunities for CASPs, but navigating its requirements demands expertise. GKF Legal delivers:

• In-depth knowledge of Maltese corporate and financial law
• Specialised expertise in MiCAR and EU crypto regulations
• Practical guidance on governance, compliance, and operational readiness

Our team has supported over 30 CASPs, including major players, in securing licences and building sustainable operations in Malta and across the EU.

Contact GKF Legal Today

Ready to unlock Malta’s fintech potential with a CASP licence? Contact GKF Legal for a confidential consultation at info@gkflegal.com or visit www.gkflegal.com/services/casp-licensing. Let us guide you to a compliant, competitive, and future-ready crypto business.

Kelly Fenech is a Founding Partner in GKF Legal’s Financial Services Practice, specialising in EU fintech regulation. The views expressed are his own and do not constitute legal advice.