Malta: Two-Thirds Fail Cryptocurrency Agent Certification Exam

  • Paul Hackley
    📰 News

    Nearly two-thirds of the applicants fail cryptocurrency agent certification exam in Malta despite the last-minute changes intended to increase the pass rate


Malta: Two-Thirds Fail Cryptocurrency Agent Certification Exam

Nearly two-thirds of the applicants fail cryptocurrency agent certification exam in Malta despite the last-minute changes intended to increase the pass rate.

Under the Virtual Financial Assets (VFA) Act coming into force in November, about 250 lawyers, accountants and auditors looking to act as agents in the field had to pass an exam, the first of which took place in September. The number of passes turned out to be very low, leading the authorities to scrap the negative marking scheme. Even after that, the pass rate was only 39 percent.

In early September, the Malta Financial Services Authority (MFSA) issued a consultation document saying it had “become evident that certain industry players are not sufficiently prepared to register as VFA agents.” Following that, the MFSA proposed a more rigorous competence assessment.

Cover image via u.today
Only the most important posts per day. Infographics, analytics, reviews & summaries. Join our Telegram channel!

About the author

Paul Hackley is a journalist and essayist, focusing on blockchain and cryptocurrencies, with a strong interest in the future of the technology.

👓 Recommended articles

This site uses cookies for different purposes. Please set your preferences in Cookie Settings and visit our Cookie policy for more information on how and why cookies are used on this site. Click here for cookie policy

Cookie settings