On the 25th of February, the Malta Financial Services Authority published Chapter 3 of the Virtual Financial Assets Rulebook for VFA Service Providers, following the consultation paper that was issued in August 2018.
The document covers the following:
- The high level principles which are meant to serve as guidelines to VFA Service Providers in their provision of services in or from within Malta;
- The VFA Service Providers' licensing requirements and licensing process;
- The obligations that VFA Service Providers must be in adherence with; and
- The enforcement and sanctions imposed in case of misconduct.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.