Scalable tailor-made advisory
services to the crypto-industry

We ensure that you receive the best possible advice based on our
knowledge and previous experience in Maltese legislation relevant
to the crypto-industry.

About us

Being based in one of the most crypto-friendly jurisdictions in the world Zerafa.io has been actively involved in providing advice to various crypto-related projects

including crypto-exchanges, brokers and entities entrusting with safekeeping of virtual financial assets.

In Malta’s recent efforts to regulate the field of cryptocurrencies, blockchain and DLT, any issue or other service relating to virtual financial assets in or from within Malta requires the involvement of a VFA Agent.

Zerafa.io has been established to be in a position to provide the services of a VFA Agent to its clients, in relation to entities providing services relating to VFAs.

We commit to continue providing such services while remaining loyal to our principles of efficiency, dedication, and personal attention.

van Cutsem Wittamer Marnef & Partners​

SERVICES

Apart from guiding you in the licensing process and providing you with other related services, we can help you with the following:

Submission of application for a VFA licence – Since any application for a licence under the VFA Act may only be made through a VFA Agent, Zerafa.io Ltd is offering its services to assist in the submission of an application for a licence to operate under the VFA Act.

Endorsement of classification of VFAs – The requirement to hold a licence in terms of the VFA Act to provide services only subsists if such services are provided in relation to VFAs. Therefore, the service provider is required to carry out the Financial Instrument Test to determine whether the DLT assets in relation to which these services are provided are classified as VFAs. We can also assist you in the carrying out and endorsing the result of the Financial Instrument Test.

Liaising with MFSA – We can assist you in acting as liaison between you and the competent authorities on an ongoing basis by communicating with the MFSA and any other Maltese authority, and submitting to such authorities any required information or documentation.

COMPLIANCE

We also provide the service of acting as Compliance Officer for VFA service providers and our services include the following:

  • Preparing an Annual Compliance Program
  • Implementing adequate policies and procedures to identify breaches by the licence holder, to minimise such breaches, as well as reviewing their effectiveness on a continuous basis
  • Ensuring staff awareness of any applicable laws and regulations and providing adequate training to staff of the licence holder
  • Carrying out frequent compliance review meetings
  • Preparing frequent detailed compliance reports following review meetings
  • Immediately informing the management in case of breaches of any rules and keep adequate records of such breaches, and liaising with the management on any issues raised in connection with his duties
  • Informing the authorities in case of breaches of any rules, and monitoring returns provided to the authorities to ensure that no incorrect or misleading information is provided to the authorities
  • Carrying out any other duty that might be reasonably requested by the licence holder and/or the MFSA which is ancillary or complementary to the above duties
van Cutsem Wittamer Marnef & Partners​

WHY WORK WITH US?

  • We are focused solely on virtual financial assets, blockchain and DLT to ensure a more specialised approach and tailor-made services in a time-efficient manner
  • We specialise in Maltese law, which is one of the few legal systems to regulate the crypto-industry in a holistic manner
  • We do our utmost to keep updated with current developments by attending specific training and conferences
  • We insist on continuing professional development so our people can always give you the best advice
  • We are based in Malta, one of the most crypto-friendly jurisdictions in the world
  • We have hands-on experience in the field, having collaborated and provided advice to highly successful players in the industry
  • We have extensive experience in the financial services and commercial sectors which are also relevant to the crypto-industry and with the licensing and authorisation regime in Malta

News

The Regulation of Crypto Funds in Malta

A crypto fund can be defined as a collective investment scheme managing a portfolio consisting mainly of cryptocurrencies. These types of funds are on the rise, mainly due to the rapid growth in value of several cryptocurrencies. The development o

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Updated FATF Guidelines for a Risk-Based Approach for VFAs

On the 28th of October 2021, the Financial Action Task Force (“FATF”) published a document to update and expand its guidelines intended to help national authorities to further understand and regulate Virtual Asset (“VA”) activities and Vir

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Sports Tokens in Malta

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China bans all Cryptocurrency Transactions

On the 24th September of 2021, China’s central bank and its National Development and Reform Commission announced that all crypto-currency transactions are to be considered illegal. Moreover, companies providing cryptocurrency trading services to

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A Digital Euro for the Digital Era

The European Central Bank (“ECB”) has announced that starting from July 2021 it will be launching a digital euro project. The project is still in its infancy, and its scope covers citizens within the euro area and having the objective to maint

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A comparison between the MiCA Regualtion and the VFA Act

The scope of the Virtual Financial Assets Act, Chapter 590 of the Laws of Malta (“VFA Act”), is largely aligned with the Regulation of the European Parliament and of the Council on Markets in Crypto-Assets (“MiCA Regulation”), the latter a

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The MiCA Regulation: A General Overview

On 24th September 2020, a new extensive Digital Finance Package was adopted by the European Commission. This package aims to improve the competitiveness of Europe’s Fintech sector while mitigating risks and ensuring the financial stability of th

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