In-Principle Approval Granted to Socios.com for Class 3 VFA License by Malta Financial Services Authority
In a significant regulatory achievement, Socios.com, a leading sports platform under the Chiliz Group, has obtained in-principle approval from the Malta Financial Services Authority (MFSA) for a Class 3 Virtual Financial Assets (VFA) license. This milestone was announced through a press release on Chiliz’s official website, marking a crucial step for Socios.com in becoming a regulated Virtual Financial Asset service provider in Malta.
This approval not only solidifies Socios.com’s position within Malta’s dynamic fintech regulatory framework but also sets the stage for compliance with the upcoming EU-wide standards outlined in the Markets in Crypto-Assets (MiCA) regulation.
With this Class 3 VFA license, Socios.com is poised to enhance its offerings and provide a secure and compliant platform for sports enthusiasts and fans engaging in digital asset transactions.