Two Thirds Of Experts Fail Crypto Agent Certification In Malta
Almost two-thirds of the participants in the certification program of crypto agents did not pass the exam, despite the fact that the representatives of Malta’s Financial Regulatory Authority (MFSA) eased the requirements, Times of Malta reports.
The role of agents is that they will act as authorized MFSA representatives. The demand for crypto agents is rather high in the field of ICO.
In November 2017, the Parliament of Malta approved the Virtual Financial Assets Act (VFA). According to the document, experts in the financial services industry who have shown interest in working in the crypto sphere should have completed a qualification course and passed the exam. The first such exam was held in September.
About 250 legal experts, accounts, and auditors participated in the exam organized by the MFSA and supported by the Institute of Financial Service Practitioners
The exam was a series of multiple-choice questions. After evaluating the tasks, the examiners decided to change the testing system as the results were rather low. After the adjustments, the number of participants who got a passing grade equaled only 39%.
As previously reported, the Prime Minister of Malta expressed his confidence in the global success of the development of decentralized technologies and cryptocurrencies.