CoinDeal First Maltese Exchange to Obtain In-Principle Approval for Class 4 VFA License

CoinDeal is the first publicly known company to obtain a Class 4 Virtual Financial Assets Licence in Principle Approval from the Malta Financial Services Authority (MFSA). The exchange received notice Dec. 16.

This allows CoinDeal to provide the following VFA services to both experienced and novice investors: operation of a VFA exchange, dealing on own account and holding and controlling of clients’ assets and money.

In-principle approval means the exchange received ‘in-principle approval’ which is valid for three months from the date of its receipt. 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.

CoinDeal is currently talking with various private investors, funds and other market players about the potential investment to start global marketing and to grow it’s 400,000 customer base.