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 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, Malta’s Times reported on Thursday:

Virtually two-thirds of those applying for agent certificate failed the assessment process that was official 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 information outlet quoted sources revealing that about 250 attorneys, accountants, and auditors took. “Once the test papers were rated, it became apparent the pass rate was extremely low,” the book hauled, adding that”Even after the changes that the pass rate was just 39 percent and bitcoin casino game broadcasts .”

License Required

According to the MFSA’s consultation document for VFA service providers,”any individual who’s supplying a VFA service… shall within twelve months apply for a permit 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 aren’t sufficiently prepared to enroll as VFA agents.” The regulator, therefore, suggests a number of rules for them to comply. They include raising the initial and ongoing capital requirements as well as feesbitcoin casino united states best bitcoin casino 2016 Additionally, the MFSA suggests”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 attempt to govern the blockchain and cryptocurrency industry,” adding that”It will enter into force in November.” Other than issuing ICOs and trading cryptocurrencies explained:

Companies looking to offer virtual asset services, such as investment advice or portfolio management , also need an agent to apply for a licence.

What do you think of this 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.info

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