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Malta Appoints Cybersecurity Firm Ciphertrace to Monitor Crypto Transactions

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The Malta Financial Services Authority (MFSA) has appointed U.S. cybersecurity company Ciphertrace to help with compliance monitoring of crypto assets. Ciphertrace will be expected to keep track of transactions that pass through local crypto exchanges and digital wallets including ICOs, screening for potential money laundering and terrorism financing violations.

Also read: Fidelity’s Cryptocurrency Arm Starts Offering Institutional Investor Services

Detecting Illicit Financial Flows

The MFSA is currently sifting through applications from 29 cryptocurrency businesses that are seeking approval to operate as what are known as virtual financial agents (VFAs), the Times of Malta reported on March 11. Once the ...

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