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In world first, VAIOT project is regulated under Maltese Virtual Financial Assets Act

VAIOT becomes the first-ever company to register its whitepaper with the Malta Financial Services Authority (MFSA), paving the way for its VAI Token offering under the Maltese regulatory framework and furthering its efforts to digitize business processes globally

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Valletta, Malta – January 2020VAIOT, the developer of AI-powered digital services for businesses and consumers, announces the successful registration of its whitepaper with the Malta Financial Services Authority (MFSA), becoming the first project to be regulated under the Maltese Virtual Financial Assets Act (VFAA). The move paves the way for the future offering of VAIOT’s VAI Token under the robust framework by which the MFSA regulates public offerings of Virtual Financial Assets (VFA). VAIOT plans for its public offering to take place later this year.

In September the European Union proposed legislation to turn cryptocurrency into a regulated financial instrument. If passed, “Regulation on Markets in Crypto Assets” (MiCA) will apply to all 27 member states, giving passport rights to all regulated crypto companies across the bloc. One of the first of the few countries in the EU to introduce an organized regulatory framework was Malta, which in 2018 set out to regulate Virtual Financial Assets and Initial Virtual Financial Assets Offerings (IVFAO) as methods of raising funds. Now, for the first time, successful registration of a project’s whitepaper under the VFA Act has occurred, marking a milestone for cryptocurrency regulation. 

The registration of VAIOT’s whitepaper was supported by Grant Thornton Malta, a member of one of the world’s leading organizations of independent audit, tax, and advisory services, which acts as VAIOT’s VFA agent. The VFA Agent verifies, monitors, and provides guidance throughout the whitepaper registration process as well as beyond the offering stage, ensuring its regulatory compliance and acting as a liaison between VAIOT and the MFSA. 

The VFAA regulatory framework requires VAIOT to maintain an external and independent VFA Agent at all times. The process of completing the registration includes extensive due diligence both by the VFA Agent and the MFSA. Throughout the process, VAIOT was tasked with proving it has proper procedures in place to prevent money laundering and terrorist financing, as well as going through a security audit and smart-contract audit by an authorised Systems Auditor approved by Maltese authorities.

VAIOT develops purpose-built virtual assistants powered by AI and blockchain technology allowing companies to move processes to AI-powered channels, as well as VAIOT-labeled intelligent virtual assistants delivered directly to consumers. Any product or service sold or delivered digitally can use VAIOT’s tech to be handled by a dedicated AI virtual assistant, which can be accessed by customers via a simple mobile application. The Beta-version of VAIOT’s first intelligent virtual assistant, which services the car insurance industry, was unveiled on September 30th. Participants can still sign up for the Beta-testing on the VAIOT website.

“We are thrilled to successfully register our whitepaper with the MFSA,” says Christoph Surgowt, CEO of VAIOT. “The Maltese government has taken major steps towards introducing a clear regulatory framework surrounding IVFAOs. We will be able to offer our token in an ecosystem that will not only support the development and evolution of virtual financial assets and innovative solutions, such as VAIOT, but protect investors and token traders.”

“It’s always exciting to break new ground,” says Dr. Wayne Pisani, partner responsible forregulatory and compliance services at Grant Thornton. “VAIOT is pioneering one of the first IVFAOs, pushing forward a novel asset class in addition to its product. We look forward to engaging with, assisting, and advising the industry, as well as influencing the debate over how these virtual assistants and digital financial assets will evolve going forward.”


VAIOT combines artificial intelligence and blockchain to create new ways of digitally accessing services and securely concluding legal agreements using a natural user interface. VAIOT enables both businesses and consumers to utilize a set of technologies called Intelligent Contracts. It serves as a personal assistant, available on mobile devices via a simple natural user interface providing AI-based legal services. The company also offers a novel, intelligent service-distribution channel that empowers businesses to adapt to modern customers by providing a new way of accessing services. For more information go to


Christoph Surgowt, CEO
Pawel Andruszkiewicz, COO
Olivier Hance, Ph.D., CLO
Pawel Stopczynski, R&D Director

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