Regulatory Alerts2019-02-25
Added · Updated
Circular on Publication of Virtual Financial Assets Rules for VFA Service Providers
The Malta Financial Services Authority published Chapter 3 of the Virtual Financial Assets Rulebook to establish licensing requirements, ongoing obligations, and enforcement measures for VFA Service Providers. Applicants must appoint a registered VFA Agent to submit license applications, while existing providers in the transitory period must comply with best efforts standards and secure fitness assessments. All entities must apply for a license within twelve months of the Act's commencement or cease operations in Malta if licensing is refused.