Low Pass Rate best bitcoin online casino registered and licensed

Low Pass Rate

Under Malta’s Virtual Financial Assets (VFA) Act, professionals who wish to act as agents in the field that includes cryptocurrencies and initial coin offerings (ICOs) must successfully complete a brief training course and pass an exam.

Noting that the first exam took place in September, the Times of Malta reported on Thursday:

The assessment process that was official was failed by nearly two-thirds of those applying for cryptocurrency agent certification .

The exam was established by the Malta Financial Services Authority (MFSA) and administered by the Institute of Financial Services Practitioners.

The information outlet quoted sources revealing that about 250 attorneys, accountants, and auditors took the examination, which consisted of a series of multiple choice questions. « After the exam papers were rated, it became apparent the pass rate was extremely low, » the publication conveyed, adding that »Even after the changes the pass rate was just 39 percent and bitcoin casino game scripts. »

License Required

According to the MFSA’s consultation document for VFA service suppliers, »any person who’s providing a VFA agency… shall within twelve months apply for a license 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 aren’t sufficiently ready to register as VFA agents. » The regulator, therefore, suggests a number of rules for them to comply. They include raising the initial and ongoing capital requirements in addition to regulatory feesmBit app Additionally, the MFSA suggests »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 govern the blockchain and cryptocurrency sector, » adding that »It will enter into force in November. » Other than issuing ICOs and trading cryptocurrencies clarified:

Companies looking to offer financial asset services, such as portfolio management or investment advicerequire an agent to apply for a license.

What do you consider the low pass rate for the Maltese cryptocurrency agent certification exam? Let us know in the comments section below.

Pictures courtesy of Shutterstock and MFSA.

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Source: bitcoincasinoreview.net

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