Overview

The enactment of the ‘Virtual Financial Assets’ Act (the ‘VFA Act’) in November 2018 marked Malta’s rise to prominence as a leading blockchain jurisdiction intent on promoting the scalability of distributed ledger technology whilst ensuring a sufficient degree of investor protection and regulatory oversight.

A part of Malta’s cutting-edge trident of blockchain laws, the VFA Act, the Innovative Technology Arrangements & Services Act (‘ITAS Act’) and the Malta Digital Innovation Authority Act (‘MDIA Act’) complement each other in the attainment of a comprehensive technology-neutral blockchain regulatory framework.

A Class 2 VFA Services Licence authorises licence holders to provide any VFA service but not to operate a VFA exchange or deal for their own account. Class 2 Licence Holders may hold or control clients’ assets or money in conjunction with the provision of a VFA Service.

All you need to know

Legal Basis for Class 2 Licence
Why Malta for your Class 2 Licence
Class 2 Requirements
Class 2 Licence Process
Licence Fees & Taxes
Class 2 Post-Licensing Obligations

How we can help

Gonzi & Associates, Advcocates, has extensive experience in this field and is able to provide specialised assistance to your business at all stages of the Class 2 licence application procedure, including:

  • Malta Company incorporation and registration;
  • Drafting legal opinions to establish the legal nature of your services and technologies to determine the applicable legal framework;
  • Assistance in the collection & preparation of documentation necessary for licence application submission, including business plan, financial projections and internal policies;
  • Drafting Maltese-law aligned T&Cs governing the provision of your services;
  • Assisting in the identification and appointment of Key Functionaries, including VFA Agent, Systems Auditor or IT Auditor, Money Laundering Reporting Officer (MLRO), Non-Executive Director/s, Auditor, etc.;
  • Providing post-registration follow-up assistance, including advising on applicable annual compliance exercises.
  • Registration of your trade mark in the Malta trade mark register and the register of the European Union Intellectual Property Office as necessary;
  • Providing general legal advice and assistance as required.
 

Top 10 Reasons to Choose Malta

Jump to a different section

ICO Licensing
All you need to know about issuing tokens in or from within Malta
STO Licensing
All you need to know about conducting a Security Token Offering in or from within Malta
Crypto Exchange Licensing
All you need to know about licensing your crypto exchange
Other Crypto Services Licensing
All you need to know about licensing the provision of your crypto services
Voluntary Certification of DLT Technologies
Give your DLT-based technology a certified stamp of approval.
VFA Agents & Systems Auditors
Learn how you may obtain a licence to operate a Malta-based VFA Agent or Systems Auditor

We can assist.