MFSA publishes an FAQ Document on the VFA Framework

Following the numerous queries raised by prospective Fintech operators and service providers about the Virtual Financial Assets (VFA) Framework, the Malta Financial Services Authority (MFSA) has announced that a set of Frequently Asked Questions (FAQs) have been published with the aim of providing further guidance to the industry. It continued that these will be especially useful to those seeking authorisation under the VFA Framework. This publication includes key information on the framework itself, classification of DLT assets, VFA agents, Initial Virtual Financial Asset Offerings, VFA service providers, AML/CFT requirements and transitory provisions.

The MFSA noted that there is significant interest on the VFA Act and the underlying framework regulating related activities and services. As the framework develops, the MFSA has promised that the FAQs document will be updated with further Q&As raised by interested parties.

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