Malta's Financial Services Authority is weighing whether it should lift NFT marketplaces out of supervision due to the non-fungible feature of digital collectibles.
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In a public consultation document, the regulator said that NFTs' uniqueness and lack of interchangeability "limit the extent to which such assets may be used for investment or payment purposes."
The authority also pointed out that the EU's upcoming Markets in Crypto-assets Regulation (also known as MiCA) will exclude unique digital tokens from its scope. Malta will seek feedback until January 6, 2023.
Malta introduced Virtual Financial Assets (VFAs) Act in 2018, which requires crypto platforms to get a permission from the local regulator before they can launch any digital token.
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