On 17 April 2026 ESMA released a statement regarding the end of transitional periods under the MiCA regime. In ESMA’s previous statements about supervisory convergence, transitional measures and the end of transitional periods, ESMA has consistently placed importance on authorisation, transition, and finally, client protection.
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DAC8 marks a significant development in the EU’s treatment of crypto-assets because it moves the sector firmly into the tax transparency framework already familiar in traditional f inance. While the regime is closely linked to MiCA in structure and terminology, it serves a different regulatory purpose: tax reporting and cross-border information exchange rather than market access, licensing, conduct supervision, or prudential regulation.
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Chapter 2 and Chapter 3 of the Financial Institutions Rulebook (‘FIR/02’ and ‘FIR/03’), set out the obligation that an Annual Compliance Report (‘ACR’) is to be drawn up by its Compliance Officer. The Compliance Officer is expected to list regulatory breaches identified and their respective status and to come up with an Annual Compliance Monitoring Plan which is approved by the Board of Directors and must detail the outcome of such plan.
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PSD3 represents the EU's latest evolution in payment services regulation, aiming to foster fair competition among providers, impose tougher authorisation and oversight rules, enhance fraud protections, and ensure better cash access in underserved areas. Member States must transpose this directive into national law to activate it, unlike the more directly applicable PSR that accompanies it.
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AI’s distinction between “good” and “bad” is not inherent in the technology itself, but in the safeguards, ethical standards, and governance choices made by the companies deploying it. The piece uses recent cases involving harmful chatbot interactions, missed warning signs, and serious real-world consequences to show that voluntary self-regulation is not enough, especially when commercial incentives are allowed to override safety. Its core message is that the EU AI Act is a necessary step because mandatory safety rules, reporting obligations, and clearer accountability are needed to reduce foreseeable harm and ensure AI is developed and used in the public interest.
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The Malta Financial Services Authority (MFSA) Capital Markets Supervision (CMS) Function intends to launch a thematic review to assess whether supervised entities have implemented robust arrangements, governance structures and controls that ensure the accuracy, reliability and timeliness of regulatory reporting.
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