The MSFA, Malta Financial Service Authority, has released Chapter 3 of its Virtual Assets Rulebook: Virtual Financial Asset Rules for VFA Service Providers.
The chapter focuses on the criteria VFA (Virtual Finance Assets) service providers need to adhere to if they wish to obtain a VFA Services license under the laws of Malta. This is of course massively important for the cryptocurrency community, as Malta being cryptocurrency hub, with many cryptoexchange platforms based there, so the contents of the chapter will have a direct knock-on effect to the community at large.
Within the chapter, it outlines different licenses on offer to VFA companies and the criteria by which they will be obtained and the policies and procedures that need to be in place in a general sense. While also focusing specifically on exchange platforms, with a 10-point checklist which exchange platforms need to adhere in order to operate legitimately.
The most interesting element of the new chapter
If you want full details on everything the chapter outline, you can read the whole thing here.
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