Specialised Capital Markets Support for Digital Finance

At GKF Legal, we provide targeted legal and regulatory advice for capital markets transactions closely linked to our core practice areas—financial services, fintech, remote gaming, and digital assets. While we do not operate a broad capital markets practice, we specialise in innovative offerings involving digital financial instruments, tokenised securities, and blockchain infrastructure.

Our focus lies in providing transactional support for issuers, platforms, and sponsors navigating complex regulatory environments across Malta and the EU. From security token offerings (STOs) to tokenised debt and equity instruments, we guide clients through the structuring, classification, and documentation of offerings to ensure legal clarity and compliance.

Our services include:

• Legal and regulatory structuring advice for tokenised offerings and digital capital markets transactions
• Application of the Financial Instrument Test (FIT) to determine regulatory classification of instruments
• Drafting and review of offering documents, whitepapers, and prospectuses for digital securities and hybrid instruments
• Preparation and review of ICO whitepapers and public offering documents for Electronic Money Tokens (EMTs), asset-referenced tokens (ARTs), investment tokens, and utility tokens
• Advice on compliance with the MFSA’s rules, the Prospectus Regulation, MiFID II, and the VFA Act
• Support with equity listings and debt offerings involving crypto-assets, fintech issuers, or financial instruments intersecting with regulated activities
• Collaboration with specialist capital markets counsel for traditional issuances, while maintaining a lead role on regulatory and digital structuring aspects
• Regulatory strategy for blockchain-based market infrastructure, including DLT settlement and custody models
• At GKF Legal, we combine deep knowledge of financial regulation with a forward-looking approach to digital markets. Whether launching a tokenised equity raise or navigating securities classification for a crypto issuance, our goal is to help you structure, document, and execute your offering in full alignment with applicable laws—efficiently and confidently.

We guide clients through the legal and operational considerations of launching or managing regulated digital investment vehicles.