Low Pass Rate best bitcoin online casino registered and licensed

Low Pass Rate

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

Noting that the exam took place in September, Malta’s Times reported on Thursday:

The assessment process was failed by nearly two-thirds of those applying for agent certificate despite changes meant to boost the pass rate.

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

The news outlet quoted sources revealing that about 250 attorneys, accountants, and auditors took. “Once the test papers were graded, it became clear the pass rate was extremely low,” the publication hauled, adding that”Even after the changes that the pass rate was only 39 percent and bitcoin casino game broadcasts .”

License Required

According to the MFSA’s consultation document for VFA service providers,”any individual who is supplying a VFA service… shall within twelve months apply for a license with the competent authority with respect to Article 14 to the Act,” the CBS Group described.

The MFSA wrote,”It has also become evident that certain industry players are not sufficiently ready to enroll as VFA agents.” The regulator proposes a number of additional rules for them to comply. They include increasing the initial and ongoing capital requirements as well as feesbitcoin casino no deposit bonus 2016 bitcoin casino usa legality Additionally, the MFSA proposes”introducing a rigorous competence assessment” and”a compulsory 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 seek to regulate the blockchain and cryptocurrency industry,” adding that”It will enter into force in November.” Other than trading cryptocurrencies and ICOs, the novel clarified:

Companies looking to provide other financial asset services, such as portfolio management or investment advice, also require an agent to apply for a licence.

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

Pictures courtesy of Shutterstock and MFSA.

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Source: bitcoincasinoreview.info

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