Malta: Virtual Financial Assets (VFA) Service Providers
04 March 2020
A VFA Service is defined in the VFA Act as any service falling within the Second Schedule of the VFA Act, when it is provided in relation to a DLT Asset which has been determined to be a Virtual Financial Asset (VFA).
A license will be required for the provision of any of the VFA Services listed under the Act, although certain services are exempted for the purposes of the requirement for a licence.
If the DLT assets to be traded or dealt with enter the sphere of other regulated activities, such as securities or iGaming, then more regulators will be called into play.
The different regulators work closely and share the vision of promoting Malta as a safe, regulated environment in which this industry may thrive.
Contact Rudolph Psaila to find out more.