21 crypto exchanges flock to Malta for a license

[mlawson71]

As of November 1st the Maltese financial regulator has received 34 applications for a crypto services license under the recently adopted Virtual Financial Assets (VFA) Act, 21 of which from crypto currency exchanges.

According to an official announcement by the Malta Financial Services Authority (MFSA) until October 31, all crypto providers on the Mediterranean island have been operating under some transitory provisions, specified in Article 62 of the VFA Act.

Now, in order to maintain their legal status all such companies have to apply for a MFSA crypto service provider’s license.

The crypto providers will fall under four categories and respectively will have to meet different requirements.

Source