Malta is a very popular place for blockchain based businesses and a favorite place among crypto-users. Malta is one of the first countries in times of regulatory bans to create a jurisdiction with some great laws that put a frame around the world of cryptocurrencies. Their attitude towards cryptocurrencies is seeing the cryptocurrencies and the blockchain technology as the basis for a future, better economy.
Malta caught the eye of some of the most popular crypto-giants such as BitBay and Binance. Their Prime Minister Mr. Joseph Muscat believes that cryptocurrencies are the future of money and the country is ready to embrace the concept. There have been three blockchain and cryptocurrency bills passed by their parliament in 2018 alone.
VFA – Virtual Financial Assets Act
This act is created so it can regulate ICOs. It demands companies that choose ICO as an investment to publish white papers where the project will be explained in detail.
MDIA – Malta Digital Innovation Authority Act
This act refers to forming regulatory procedures for cryptocurrencies and the blockchain industry in general.
Technology Arrangements and Services Bill
From this bill, you can see that the government asks for the registration and certification procedures referring to service providers and focuses mostly on the registration of exchanges in Malta.
Malta is the first country to provide stable legal space for all cryptocurrencies and it is expected for it to become the first most desirable location for starting a blockchain business. Also, Malta will be the host of the biggest crypto event this year in November. Many crypto influencers will attend the event and they will discuss the potential uses of the blockchain technology.
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