Malta is fast becoming an international hot-spot for blockchain entrepreneurs, but reports have indicated two-thirds of applicants failed the licensing exam for operating cryptocurrency-related businesses. The shitty pass rates come even after Malta’s Institute of Financial Service Practitioners made last-minute changes to the marking scheme to boost the number of licenses it could award, Times of Malta reports. As part of Malta’s new Virtual Finances Assets Act, cryptocurrency and blockchain businesses are required to be licensed to launch initial coin offerings (ICOs), raise capital, or trade digital assets on exchanges. In order to receive a license, applicants must complete a…

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