Low Pass Rate best bitcoin online casino registered and licensed
Low Pass Rate
Beneath Malta’s Virtual Financial Assets (VFA) Act, professionals who wish to act as agents in the field that includes cryptocurrencies and initial coin offerings (ICOs) must successfully complete a brief training course and pass an exam.
Noting that the exam took place in September, the Times of Malta reported on Thursday:
Nearly two-thirds of those applying for agent certificate failed the evaluation process that was official despite last-second changes intended to enhance the pass rate.
The exam was set by the Malta Financial Services Authority (MFSA) and administered by the Institute of Financial Services Practitioners.
The information outlet quoted sources revealing that about 250 lawyers, accountants, and auditors took. “Once the test papers were rated, it became apparent the pass rate was extremely low,” the book hauled, adding that”Even after the changes that the pass rate was only 39 percent and bitcoin casino game broadcasts .”
License Required
According to the MFSA’s consultation document for VFA service suppliers,”any person who is providing a VFA agency… shall within twelve months apply for a permit with the competent authority with respect to Article 14 to the Act,” the CBS Group described.
The MFSA wrote,”It has also become evident that certain industry players aren’t sufficiently ready to register as VFA agents.” The regulator, therefore, proposes a number of additional rules for them to comply. They include increasing the initial and ongoing capital requirements in addition to regulatory feesbitcoinrush site In addition, the MFSA proposes”introducing a rigorous competence assessment” and”a compulsory requirement for Continuous Professional Education.”
The Times of Malta elaborated,”The VFA Act is one of three new laws forming part of the government’s’Blockchain Island’ strategy and which attempt to regulate the blockchain and cryptocurrency sector,” adding that”It will enter into force in November.” Aside from trading cryptocurrencies the novel, and ICOs clarified:
Companies looking to offer other virtual asset services, such as portfolio management or investment advice, also need an agent to apply for a licence.
What do you think of the low pass rate for the Maltese cryptocurrency agent certification exam? Let us know in the comments section below.
Pictures courtesy of Shutterstock and MFSA.
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Source: bitcoincasinoreview.info
