THELOGICALINDIAN - The canyon amount for the assay developed by the Maltese government for banking casework practitioners gluttonous to access cryptocurrency abettor acceptance is reportedly alone 39 percent The assay is allotment of the requirements allowable by the countrys anew accustomed Virtual Banking Assets Act
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Low Pass Rate
Under Malta’s Virtual Financial Assets (VFA) Act, practitioners who ambition to act as agents in the acreage that includes cryptocurrencies and antecedent bread offerings (ICOs) charge auspiciously complete a abbreviate training advance and canyon an exam.
Noting that the aboriginal assay took abode in September, the Times of Malta appear on Thursday:
The assay was set by the Malta Financial Services Authority (MFSA) and administered by the Institute of Financial Services Practitioners.
The account aperture quoted sources absolute that about 250 lawyers, accountants, and auditors took the exam, which consisted of a alternation of assorted best questions. “Once the assay affidavit were graded, it became bright the canyon amount was acutely low,” the advertisement conveyed, abacus that “Even afterwards the changes the canyon amount was aloof 39 percent.”
License Required
According to the MFSA’s appointment certificate for VFA account providers, “any being who is accouterment a VFA account … shall aural twelve months administer for a authorization with the competent ascendancy in agreement of Article 14 to the Act,” the CBS Group described.
The MFSA wrote, “It has additionally become axiomatic that assertive industry players are not abundantly able to annals as VFA agents.” The regulator, therefore, proposes a cardinal of added rules for them to comply. They accommodate accretion the antecedent and advancing basic requirements as able-bodied as authoritative fees. In addition, the MFSA proposes “introducing a accurate adequacy assessment” and “a binding claim for Continuous Professional Education.”
The Times of Malta elaborated, “The VFA Act is one of three new laws basic allotment of the government’s ‘Blockchain Island’ action and which seek to adapt the blockchain and cryptocurrency sector,” abacus that “It will access into force in November.” Other than trading cryptocurrencies and arising ICOs, the advertisement explained:
What do you anticipate of the low canyon amount for the Maltese cryptocurrency abettor acceptance exam? Let us apperceive in the comments area below.
Images address of Shutterstock and MFSA.
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