Low Pass Rate best bitcoin online casino registered and licensed
Low Pass Rate
Beneath Malta’s Virtual Financial Assets (VFA) Act, practitioners who wish to act as agents in the field that includes cryptocurrencies and initial coin offerings (ICOs) must successfully complete a short training course and pass an exam.
Noting that the exam took place in September, Malta’s Times reported on Thursday:
The evaluation process was failed by Virtually two-thirds of those applying for cryptocurrency agent certification .
The examination was set by the Malta Financial Services Authority (MFSA) and administered by the Institute of Financial Services Practitioners.
The information outlet quoted sources showing that about 250 attorneys, accountants, and auditors took. “Once the exam papers were graded, it became apparent the pass rate was extremely low,” the publication hauled, adding that”Even after the changes the pass rate was only 39 percent and bitcoin casino game broadcasts .”
According to the MFSA’s consultation document for VFA service suppliers,”any individual who’s providing a VFA agency… shall within twelve months apply for a permit with the competent authority in terms of Article 14 to the Act,” the CBS Group described.
The MFSA wrote,”It has also become evident that certain industry players are not sufficiently prepared to register as VFA agents.” The regulator, therefore, proposes a number of additional rules for them to comply. They include raising the initial and ongoing capital requirements as well as feesdice bitcoin casino review bitcoin casinos reviews Additionally, the MFSA proposes”introducing a rigorous competence assessment” and”a mandatory requirement for Continuous Professional Education.”
The Times of Malta elaborated,”The VFA Act is just one of three new laws forming part of the government’s’Blockchain Island’ plan and which attempt to regulate the blockchain and cryptocurrency sector,” adding that”It will enter into force in November.” Other than trading cryptocurrencies and issuing ICOs, the publication explained:
Companies looking to provide other virtual asset services, such as investment advice or portfolio management , also need an agent to apply for a licence.
What do you consider the low pass rate for the Maltese cryptocurrency agent certification exam? Tell us in the comments section below.
Images courtesy of Shutterstock and MFSA.
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