Virtual Financial Assets embody Malta’s efforts to become a leader in the regulation of distributed ledger technology. Together with entities within our network, we provide a holistic service offering which makes us stand out from the rest.
Once it is determined that the DLT Asset cannot be considered as a Virtual Token, electronic money in terms of the Electronic Money Directive, or a financial instrument in terms of MiFID II, then the DLT Asset will be considered as a Virtual Financial Asset and shall be regulated by the new enacted law, the ‘Virtual Financial Asset Act’. Therefore, the VFA Act shall only regulate DLT assets which according to the Financial Instrument Test are considered to be VFAs.
VFAs are defined in the VFA Act as “any form of digital medium recordation that is used as a digital medium of exchange, unit of account, or store of value and that is not an electronic money, a financial instrument, or a Virtual Token.
VFA Agent services are offered by Blockchain Advisory Limited, the latter being duly authorised to provide such services by the Malta Financial Services Authority.