The Malta Financial Services Authority has recently published a document which sets out frequently asked questions in relation to the Virtual Financial Assets regulatory framework. The document addresses key questions regarding the framework itself, the classification of DLT assets, the appointment and roles of VFA agents, Initial Virtual Financial Asset Offerings, the duties of VFA service providers, AML/CFT requirements and transitory provisions. The MFSA stated that the FAQ document will be updated with further Q&As, to address the general queries raised by interested parties, as the framework develops.
The legal profession welcomes the publication of this document as it will certainly assist lawyers involved in the industry in the provision of clearer and more certain advice on an important regulatory process which is still in its infancy.
Click here to access the set of questions or contact us on [email protected] for further information.
