Malta Digital Exchange (MDX) is moving in with the Malta Stock Exchange (MSE) in contemplation of the launch of its digital exchange division, the Times of Malta reported on March 5.
MDX is reportedly in the process of obtaining a securities license to promote a multilateral trading platform that will introduce a secondary market for digital assets trading. MDX founder and executive chairman Rick Klink said that the “move to the Maltese Stock Exchange means that we are now physically positioned to be at the heart of the next wave of institutional financial innovation.”
The move comes the wake of the International Monetary Fund’s (IMF) statement that the Malta Financial Services Authority (MFSA) has critical gaps in its supervision for Anti-Money Laundering (AML) and combating the financing of terrorism (CFT) earlier this month.
In its Financial System Stability Assessment Report, the IMF recommended to employ more resources to supervise blockchain and cryptocurrency service providers. It also pointed out the need for enhanced screening processes for beneficiary owner information and monitoring of risk-sensitive accounts, including new technologies like digital assets and e-gaming, and IIP-related funds.