Malta's regulator approves VAIOT to conduct first ICO in the country

Malta approved the first regulated public placement of tokens in the country. It will be held by VAIOT, developing AI using blockchain for business.

According to VAIOT, This year the company will hold the first approved in Malta regulators Public placement of tokens of their hybrid blockchain using artificial intelligence (II) Strokes. Financial service department of Malta (MFSA) approved the placement of tokens, and also registered the white book VAIOT.

VAIOT, developing services based on artificial intelligence for business, plans to become the first project, which will conduct the initial placement of virtual financial assets (Ivfao), approved by the regulator.

"Malta leads in the introduction of the EU regulatory rules among European countries", – said the general director of VAIOT Christoph Surgovt (Christoph Surgowt). “We will be able to offer our token in the ecosystem, which will not only support the development of virtual financial assets and innovative decisions, but also to protect investors and tokens traders ".

Only in 2019 Malta received a year 340 preliminary applications for license from cryptocurrency companies, But none of them is still approved. Strokes, The blockchain of which is now in the beta testing stage, develops virtual assistants based on artificial intelligence and blockchain. According to the statement, The company is aimed at the auto insurance industry and recently attracted 5 Milln euros by the private sale of its VAI tokens.

According to Surgov, To obtain the permission of the regulatory authorities for the upcoming sale of VAIOT tokens, it was necessary to demonstrate the presence of appropriate procedures to prevent money laundering and financing terrorism. The project took an audit of safety and smart contracts from the company, approved by the Maltese authorities. “The ultimate goal – ensuring the security of our investors ", – He emphasized.

The fate of many of 340 initial applications in MFSA unknown. but 26 Startapov retained their applications for a license as of March 2020 of the year, According to MFSA. These are mainly cryptocurrency exchanges, eg, crypto.com, Gate.IO и zbx.

Recall, that earlier this year, the Department of Financial Services Malta published
statement, which presents answers to questions, relating to the placements of tokens.