Leading the way, Malta is the first country in the world to introduce a clear regulatory framework around ICOs, tokens and cryptocurrencies with the Virtual Financial Assets Act. Under the definitions of the Act, a cryptocurrency may be classed as a Virtual Financial Asset (VFA) and this new framework aims to offer consumer protection, market integrity and financial stability. The Act identifies the need to have an intermediary between the prospective clients and the competent authority (being the MFSA) and the law states that for a VFA Agent to be licensed he must be a “fit and proper person” and resident in Malta.
Affinity Management services (Malta) Limited can introduce both new start-ups and already established Fintech businesses to service providers and VFA Agents to ensure full compliance with the Act. Between the VFA Agent and Affinity’s knowledgeable team the following key areas are covered:
Affinity is well equipped to offer many services directly.