A new business section dedicated to the Virtual Financial Assets (VFA) Agents operating under the VFA Act, Chapter 590 of the Laws of Malta which came into effect on the 1st of November 2018, was set up within The Malta Chamber of Commerce, Enterprise and Industry with the election for the executive committee taking place on Monday 23rd March, 2020.

The objective and purpose behind the setting up of the VFA Agent Business Section is to provide a common platform for registered VFA Agents to put forward proposals for the bettering of the VFA framework and acting as a liaison between industry and regulator. In doing so, VFA Agents will ensure that the concerns of industry players are raised with the appropriate entities, while ensuring that the principles outlining the current VFA regulatory framework are safeguarded.

In a statement to the media, the Chamber said that with the setting up of this Business Section, the Chamber was once again being proactive in representing a new sector, in terms of giving it a unified voice to propose ideas and solutions for such a sector which is having challenges in its embryonic stage.

Dr. Franklin Cachia, Senior Manager Tax and Regulated Industries represents CSB Fintech Ltd and is a member of the first Executive Committee of the VFA Agents Business Section of the Malta Chamber of Commerce.

CSB Fintech Ltd is authorised by the MFSA to act as a fully registered VFA Agent in accordance with the Virtual Financial Assets Act.

Originally published April 15, 2020.

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