CoinDeal Obtains in-Principle Approval for Maltese Class 4 VFA License
PRESS RELEASE. CoinDeal is pleased to announce that it is now the first publicly known company to have obtained a Class 4 Virtual Financial Assets License in Principle Approval from the Malta Financial Services Authority (MFSA). The exchange received the letter on 16 December, 2020.
This allows CoinDeal to provide the following VFA services to both Experienced and Non-Experienced investors: Operation of a VFA Exchange, Dealing on own account and Holding and controlling of clients’ assets and money.
In-principle approval means that the exchange received ‘in-principle approval’ which is valid for three months from the date of its reception. During this time, the applicant must meet additional requirements for both pre-licensing and post-licensing conditions. Once the application for a license has been approved, the exchange will be able to obtain it officially.
The company is currently talking with various private investors, funds and other market players about the potential investment needed to start global marketing and to grow its 400,000 customer base.
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