Token Sale Update
October 24, 2018
Dear APA Community,
Things have been moving forward well at APA and I am proud to say that we are continuing to strive toward providing our community with a system that enhances the way artists and collectors conduct business. We are also looking forward to conducting the token sale. Here is an update:
The Maltese Parliament passed a bill in June that provides regulation for Token Sales (the Virtual Financial Assets Act), therefore, we have been working with attorneys to register APA as one of the first companies to apply. The application process will officially begin on Thursday, November 1st, which we have been preparing the last month and a half for. This will be advantageous for APA on many levels, including being in position to work with the MFSA (Malta Financial Services Authority - the authority in Malta that regulates Token Sales) on ensuring a safe process for using the APA tokens.
The Malta Financial Services Authority is the single regulator for financial services in Malta. It was established by law on July 23, 2002 taking over supervisory functions previously carried out by the Central Bank of Malta, the Malta Stock Exchange and the Malta Financial Services Centre. The Authority is a fully autonomous public institution and reports to Parliament on an annual basis.
Thank you for your patience with the process. I know it has taken longer than expected. We have been very smart and conservative about ensuring that this endeavor is a success and I’m happy to say that we are close to our achieving our goals.
Founder | CEO
All Public Art Limited