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ARTICLE · 28 DECEMBER 2018

Amendments To PMLFTR For VFA Industry

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The Legal Notice, apart from other amendments, includes updates relevant to the blockchain sphere.

MaltaGovernment, Public Sector
Ganado Advocates
Ganado Advocates
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Legal Notice 430 of 2018 Prevention of Money Laundering and Funding of Terrorism (Amendment) Regulations, 2018 has just been published and is available to download by clicking here.

The Legal Notice, apart from other amendments, includes updates relevant to the blockchain sphere. In brief, the main changes include:

  1. the definition "occasional transaction" shall also include: "(e) a transaction, independently of the amount involved, carried out by a subject person whose activities are those referred to in paragraphs (m) and (n) of the definition "relevant financial business"; and (f) the provision of VFA agent services to a person or institution required to be licensed to provide VFA services under the provisions of the Virtual Financial Assets Act;"; and

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