ESMA Flags Concerns over Malta’s Crypto Licensing Process The European Securities and Markets Authority (ESMA) has criticised Malta’s financial regulator, the MFSA, over shortcomings in its licensing process for cryptocurrency firms under the new EU Markets in Crypto-Assets (MiCA) regulation. ESMA’s final report stated that Malta’s authorisation process lacked thoroughness and failed to sufficiently assess key areas, including anti-money laundering and client onboarding. MiCA, which became the EU’s first bloc-wide crypto regulation in December, requires firms to meet strict criteria to operate legally. In response, the MFSA defended its approach, insisting no licences were issued hastily and said Malta remains committed to being a robust yet accessible jurisdiction, noting that ESMA’s report also highlighted regulatory strengths. (Times of Malta)
Malta Launches Labour Migration Policy to Tighten Oversight The first phase of Malta’s new Labour Migration Policy will come into effect on 1 August, with 20 measures aimed at tightening controls, combating abuse, and safeguarding workers’ rights. Minister Byron Camilleri announced that twelve measures will be implemented immediately, with others starting from October or introduced gradually in the coming months. The policy is built on four principles: stability, protection of workers’ rights, employment of third-country nationals (TCNs) only where needed, and investment in skills. One key measure is the monitoring of termination rates—employers with high or unjustified dismissals risk losing the right to apply for TCN workers. Jobsplus will begin by notifying employers exceeding set thresholds, with full enforcement phased in over 12 months to allow adjustment. Over 300 stakeholder submissions informed the policy’s development. (Maltatoday)
Malta’s Population Growth Slows as Net Migration Falls Malta’s population reached an estimated 574,250 by end-2024, a 1.9% rise from the previous year, according to the NSO ahead of World Population Day. Growth was mainly driven by net migration, with 10,614 more arrivals than departures—77% involving non-EU nationals. Although immigration slowed, rising emigration halved net migration compared to 2023. Men made up 53.1% of the population and 57.7% of incoming migrants. Natural growth fell sharply, with only 193 more births than deaths—a 55% drop year-on-year. Children under 18 made up 14.5% of the population, while 18.4% were 65 or older. Women outnumbered men in older age groups, especially among those over 85. Maltese citizens accounted for 70.6% of the population, while foreign residents—mostly aged 20–49—made up 29.4%, reflecting a younger, working-age demographic. (The Malta Independent)
