Mass Failure Rate Recorded in Inaugural Malta Cryptocurrency Agent Examination

With Malta’s Virtual Financial Assets Act (VFA) billed to come into effect in November, the country has held its first cryptocurrency agent examination. Unfortunately, of the 250 participants, about two-thirds failed despite last-minute changes made by the organizers to boost pass rate.

Malta’s Cryptocurrency Agent Accreditation Examination

According to a local Newspaper, about 250 accountants, auditors, and other financial services professionals took the VFA Agent exam. The exam organized by the Malta Financial Services Authority (MFSA) is the final stage in the accreditation process, following a short training course.

The exam which consisted of multiple-choice questions was initially graded using a negative marking system. On review, the MFSA changed the marking scheme to boost the pass rate. Despite the change, this first exam recorded only a 39 percent pass rate. Since Authorization to practice is dependent on completing the assessment process, many professionals are…