Most of the “cryptocurrency” agent in Malta failed the basic exam

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Most of the “cryptocurrency” agent in Malta failed the basic exam

Almost two-thirds of those wishing to obtain a certificate of cryptocurrency agent in Malta has not managed to pass the exam, although a last-minute evaluation criteria have become much softer. On 18 October he wrote to local newspaper Times of Malta.

Since in November entered into force in Maltese law “On virtual financial assets”, the exam and the training course became mandatory for all those wishing to become so-called agents in the cryptocurrency sector.

Under the implied agents, attorneys, accountants and auditors who want to play the role of mediators between the operators of the ICO or other sellers of cryptocurrency on the one hand and the financial regulator of the country, the Office of financial regulation and supervision (MSFA).

According to the Times of Malta, the exam is trying to get 250 people. They had to answer a series of questions (choosing the right from the suggested answers). When testing it became clear that the percentage of successful candidates “depressingly low”, the examiners decided to revise the evaluation system in the direction of liberalization. Nevertheless, even under the new model, only 39% of participants managed to pass the exam.

According to the newspaper, the evaluation process, and requirements change disappointed many promising candidates. In addition to individual persons, accreditation MSFA requires any company wanting to provide associated with cryptocurrency services, including advice on investments or portfolio management. Also accreditation is necessary for all ICO projects.

Coordinator of the examination system, Institute of Financial Service Practitioners, declined to comment.

The publication quotes the document MSFA, presumably released at the beginning of September, which the regulator notes that “some members of the industry is clearly not ready to register as agents,” and advises “to take measures to respond to the request of the sector, especially taking into account the existing risks.”

Malta enjoys a reputation as having a transparent and healthy management, as indicated by the established her the nickname of the “island block”. In addition to the law “About virtual financial assets”, approved in July 2018, the country has a law “On the center of the digital innovazioni two-thirds of those wishing to obtain the certificate of “cryptocurrency agent” in Malta has not managed to pass the exam, although a last-minute evaluation criteria have become much softer. On 18 Oct napisannoe edition of Times of Malta. Since in November entered into salamalichi “Law on virtual financial assets”, the exam and the training course became mandatory for all those wishing to become “agents” in the cryptocurrency sector.

“Agents” means attorneys, accountants and auditors who want to play the role of mediators between the operators of the ICO or other sellers of cryptocurrency on the one hand and the financial regulator of the country, the Office of financial regulation and supervision (MSFA).

According to the Times of Malta, the exam is trying to get 250 people. They had to answer a series of questions (choosing the right from the suggested answers). When testing it became clear that the percentage of successful candidates “depressingly low”, the examiners decided to revise the evaluation system in the direction of liberalization. Nevertheless, even under the new model, only 39% of participants managed to pass the exam.

According to the newspaper, the evaluation process, and requirements change disappointed many promising candidates. In addition to individual persons, accreditation MSFA requires any company wanting to provide associated with cryptocurrency services, including advice on investments or portfolio management. Also accreditation is necessary for all ICO projects.

Coordinator of the examination system, Institute of Financial Service Practitioners, declined to comment.

The publication quotes the document MSFA, presumably released at the beginning of September, which the regulator notes that “some members of the industry is clearly not ready to register as agents,” and advises “to take measures to respond to the request of the sector, especially taking into account the existing risks.”

Malta enjoys a reputation as having a transparent and healthy management, as indicated by the established her the nickname of the “island block”. In addition to the law On “virtual financial assets”, approved in July 2018, the country has a law “On the Centre of digital innovations” and “innovative technologies and services.”

In addition, popular among Maltese specialists the exam to become a certified financial analyst with 2019 will include questions on cryptocurrencies and the blockchain. and “About the innovative technologies and services.”

In addition, popular among Maltese specialists the exam to become a certified financial analyst with 2019 will include questions on cryptocurrencies and the blockchain.

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