Maltese officials: The HKMA has received applications from 300 blockchain industry companies, and only 154 have passed approval

According to Independent, Silvio Schembri, the parliamentary secretary for financial services, digital economy and innovation in Malta, said in an interview that in November last year, Malta enacted the VFA Act, focusing on the regulatory framework needed to provide cryptocurrencies, blockchain. Practitioners are required to submit an application to the Malta Monetary Authority (MFSA). So far, more than 300 companies in the industry have submitted applications. The MFSA only wants to accept more substantive and serious applications, only 154 applications, Silvio said: "We want quality rather than quantity."