The Malta Monetary Providers Authority (MFSA) has acquired queries from 21 cryptocurrency exchanges looking for licensure underneath the Digital Monetary Belongings (VFA) Act.
21 corporations out of 34 potential VFA suppliers are crypto exchanges
In accordance with an official announcement on Nov. 1, the 21 exchanges are among the many 34 potential VFA service suppliers that despatched their letters of intent to the Maltese monetary regulator with a view to purchase a VFA Providers Licence.
The MFSA clarified that, till Oct. 31, crypto suppliers have been working underneath the transitory provisions laid out in Article 62 of the VFA Act. As a way to proceed their operations in or from Malta, these corporations shall be now required to use for authorization with the MFSA.
VFA license candidates to fall underneath one among 4 classes
In accordance with a report by Finance Magnates, candidates shall be categorized on the discretion of the MFSA into one among 4 classes that outline the necessities of license holders. The regulator can be…