There’s a group of countries on the Old Continent that have recognized the potential of the newly forming cryptoconomy. In the past couple of years, nations such as Malta, Switzerland and Estonia have been making efforts to attract businesses from the nascent industry, often rebuffed elsewhere. However, registering and running a crypto company, even in the most favorable climates, comes with certain challenges as businesses across the continent have been finding out.
Also read: Online Bank Mistertango Offers Crypto Companies Multiple Accounts and Ibans
Four Months Later, Malta Approves First Crypto Asset Agents
Financial authorities in Malta, a nation which takes pride in calling itself the Blockchain Island, recently approved 14 entities that will become the first Virtual Financial Asset (VFA) agents in the country. They will serve as intermediaries between crypto companies and the Malta Financial Services Authority (MFSA) which issued the approvals.
The agents are expected to provide guidance and assistance with legal and…