On 4 April 2025, the Malta Financial Services Authority (MFSA) issued a circular addressed to crypto-asset service providers (CASPs) authorised under the Markets in Crypto-Assets Act (Chapter 647 of the Laws of Malta), the local legislation implementing the EU’s Markets in Crypto-Assets Regulation (MiCAR). This communication marked the release of the official Crypto-Asset Service Provider Return, known as the CASP Return.
The CASP Return represents a key component of the MFSA’s wider strategy to implement clear and structured supervision for entities operating in the digital asset space. By introducing standardised reporting obligations, the Authority is enhancing regulatory oversight and promoting greater transparency within the sector.
All licensed CASPs are required to complete and submit the CASP Return through the MFSA’s Licence Holder Portal by 30 April 2025. Future reporting will follow the periodic timelines outlined in the applicable Rules and the MFSA’s regulatory documentation table for CASPs.
The MFSA has clarified that it is the sole responsibility of the licence holder to ensure the timely and accurate submission of the CASP Return. This includes verifying that the information provided is both complete and in line with the latest version of the return template, currently designated as version v25-01-a.
Failure to submit the return within the specified deadlines—or to provide accurate data—may expose the licence holder to supervisory action, including potential sanctions under the Authority’s enforcement framework. As such, CASPs are encouraged to put in place adequate internal controls and review processes to support compliance with their ongoing reporting obligations.
This new reporting tool builds on Malta’s evolving supervisory framework for crypto-asset service providers. The MFSA’s regulatory journey, which began under the Virtual Financial Assets Act (Chapter 590), continues to mature through the transition to the Markets in Crypto-Assets Act, reflecting a shift towards alignment with EU-wide standards.The introduction of the CASP Return further evidences the Authority’s consistent efforts to align local supervisory practices with EU-wide standards.
The MFSA had previously published the Markets in Crypto-Assets Rulebook in March 2025, which sets out the regulatory requirements for CASPs, including licensing conditions, conduct rules, prudential requirements, and reporting obligations. Together, the Rulebook and CASP Return serve to reinforce Malta’s commitment to upholding strong regulatory standards in the crypto-asset industry while taking into consideration the specificities of the local market.
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All licensed CASPs are required to complete and submit the CASP Return through the MFSA’s Licence Holder Portal by 30 April 2025. Future reporting will follow the periodic timelines outlined in the applicable Rules and the MFSA’s regulatory documentation table for CASPs.
Ongoing Compliance Obligations
The MFSA has clarified that it is the sole responsibility of the licence holder to ensure the timely and accurate submission of the CASP Return. This includes verifying that the information provided is both complete and in line with the latest version of the return template, currently designated as version v25-01-a.Failure to submit the return within the specified deadlines—or to provide accurate data—may expose the licence holder to supervisory action, including potential sanctions under the Authority’s enforcement framework. As such, CASPs are encouraged to put in place adequate internal controls and review processes to support compliance with their ongoing reporting obligations.
This new reporting tool builds on Malta’s evolving supervisory framework for crypto-asset service providers. The MFSA’s regulatory journey, which began under the Virtual Financial Assets Act (Chapter 590), continues to mature through the transition to the Markets in Crypto-Assets Act, reflecting a shift towards alignment with EU-wide standards.The introduction of the CASP Return further evidences the Authority’s consistent efforts to align local supervisory practices with EU-wide standards.
The MFSA had previously published the Markets in Crypto-Assets Rulebook in March 2025, which sets out the regulatory requirements for CASPs, including licensing conditions, conduct rules, prudential requirements, and reporting obligations. Together, the Rulebook and CASP Return serve to reinforce Malta’s commitment to upholding strong regulatory standards in the crypto-asset industry while taking into consideration the specificities of the local market.
How can BDO Malta assist?
BDO Malta assists businesses in navigating MiCA compliance and licensing, offering tailored support for both established providers and new entrants. For guidance on thriving in Malta’s regulated crypto ecosystem, please contact us on legal@bdo.com.mt.
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