VFA Services
The Virtual Financial Assets Act, defines a VFA service, as any
services falling within the Second Schedule to the Virtual
Financial Assets when provided in relation to a DLT Asset which has
been determined to be a virtual financial asset. A license will be
required for the provision of a VFA Service.
The Second Schedule to the Act describes the types of VFA
Services which may be offered in terms of the Act:
Reception & Transmission of Orders: The
reception from a person of an order to buy, sell or subscribe for
virtual financial assets and the transmission of that order to a
third party for execution.
Execution of Orders on behalf of other persons:
Acting to conclude agreements to buy, sell or subscribe for one or
more virtual financial assets on behalf of other persons.
