Introduction to the Virtual Financial Assets Act exam

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Introduction to the Virtual Financial Assets Act exam

29th September 2018 @ 10:00 - 11:30

The examination for the first Introduction to the Virtual Financial Assets Act course will be held on Saturday, 29 September on the University of Malta campus.

Please note that the examination is open to people who have attended a minimum of THREE of the four lectures of the course.

This will be a multiple choice examination, with 100 questions to be answered over a period of two hours. The exam will start at 10:00, ending at 12:00. The papers submitted will be graded with negative marking: each CORRECT answer receives one mark; for each INCORRECRT answer, one make will be deducted. If an question is unanswered, no marks will be deducted.

This is a closed book examination; candidates will not be allowed to bring any books, notes, copies of the law or guidelines  or indeed any other printed material into the examination halls. We would also request that no electronic devices – including phones and tablets – be used during the examination.

Answers are to be indicated on the paper itself, which should be handed in to the invigilators at the end of the examination. Answers should be entered in ink; please do not use a pencil or other erasable medium.

May I again ask that candidates ensure they arrive at the examination halls in good time; candidates will not be allowed to leave or enter the halls for the first 15 minutes of the examination.

Six examination halls will be in use: five in the Gateway Building (rooms GWHA, GWHB1, GWHB2, GWHD1, and GWHD2) plus the Arts Lecture Theatre (ALT). Index numbers and room allocations will be distributed by the end of Wednesday, 28 September. ANYONE WHO DOES NOT RECEIVE THIS SHOULD CONTACT THE IFSP SECRETARIAT.

The map below shows the location of of the gateway Building and the Arts lecture Theatre within the University campus: note the two locations are marked with a yellow star.

Download (PDF, 278KB)

Best regards














The new Virtual Financial Assets Act will come into force this October, making Malta the first jurisdiction to create a regulated space for virtual assets, cryptocurrencies and other finance-related activities mediated through distributed ledger technologies like blockchain.


A newly regulated area needs licensed operators and service providers, and any practitioner wishing to act as a VFA Agent will need to obtain a license. This course is designed to provide practitioners with the basic understanding of this new digital space in preparation for their license application.


Who should attend

Anyone intending to apply for a VFA Agent license should benefit from this course.


Course dates

Lecture 1: 28 August 2018*
What is blockchain/ DLT/ Crypto? How do exchanges work?
Lecturers: Patrick Young (Blockchain Malta Association), Joshua Ellul (University of Malta)

Lecture 2: 13 September 2018*
Malta’s legal framework for Virtual Financial Assets
Lecturers: Leonard Bonello (GANADO Advocates), Antonio Ghio (Fenech & Fenech Advocates)

Lecture 3: 19 September 2018*
The rules and regulations
Lecturers: Diane Bugeja (Camilleri Preziosi Advocates) ; James Farrugia (GANADO Advocates)

Lecture 4: 25 September 2018*
Business models
Lecturers:Steve Muscat Azzopardi (Chetcuti Cauchi Advocates); Colin German (Chetcuti Cauchi Advocates)


All lectures to be held between 16:00 and 19:30, with a short break for coffee half way through each session.


An examination will be held on 29 September 2018 starting at 10:00.


* Please note that the lecture dates may, should circumstances dictate, need to be shifted. Any changes will be communicated to you as soon as possible once a change is made.


Course location:
All lectures and the examination will be held at the University of Malta’s Msida Campus.


Course fees:
IFSP members’ fee: €200
Fee for all others: €250


Organisations registering five (5) or more people to this course benefit from a €30 discount on the standard fees above.

To register:

For individual registrations, please download the Individual application form here.
Organisations registering more than one participant should download the Groups registration form here.


Please complete the forms and return to us by email on, or by post to IFSP, Garrison Chapel, Castille Place, Valletta VLT 1063 along with the payment of the registration fee.


Registration fees may be paid by cheque made out to the IFSP, or by bank transfer. The IFSP’s bank details follow:


BOV account
Bank account number: 400 242 1080-7
IBAN: MT44VALL 2201 3000 0000 4002 4210 807


HSBC account
Bank account number: 027-039957-001
IBAN: MT37MMEB 4427 7000 0000 2703 9957 001


Individual form

Group form


29th September 2018
10:00 - 11:30
Event Categories:


University of Malta
Tal-Qroqq Campus
Msida, MT