The Financial Intelligence Analysis Unit has issued sector specific Implementing Procedures which apply to Virtual Financial Assets ("VFA") Agents, VFA Service Providers, anyone conducting VFA offerings to the public and anyone who has notified the Malta Financial Services Authority of their intention to submit a licence application in terms of the VFA Act. The Implementing Procedures set out the manner in which these subject persons within the VFA sector must comply with AML/CFT obligations arising from the Prevention of Money Laundering and Funding of Terrorism Regulations ("PMLFTR").
These sector specific Implementing Procedures are the result of the extended application, by means of Legal Notice 430 of 2018, of the PMLFTR to activities regulated by the VFA Act. These Implementing Procedures are to be read in conjunction with the Implementing Procedures – Part I which are generally applicable to all subject persons.
The document can be accessed through the following link: https://fiumalta.org/implementing-procedures/part2