Many european countries have decided to regulate more strictly the crypto-currencies. This is not the case of the State of Malta, which aims to become the capital of technology BlockChain in the world.
The future of the crypto-currency
Malta is already famous for being a small tax haven. However, the country does not count to stop there and intends to make a difference by becoming a reference in terms of technology BlockChain. In this sense, the Prime minister of a small island State, Joseph Muscat, has made a statement on Monday that says a lot about the wishes of Malta concerning the crypto-currencies.
The politician has stated that crypto-currencies represent the future inevitable money, and that they would soon be in the center of the world economy. Malta wishes to participate in the adventure and has already taken important steps regarding crypto-currencies.
Welcome to #Malta ?? @binance. We aim to be the global trailblazers in the regulation of blockchain-based businesses and the jurisdiction of quality and choice for world class fintech companies-JM @SilvioSchembri https://t.co/3qtAQjOpuQ
— Joseph Muscat (@JosephMuscat_JM) March 23, 2018
In effect, the regulation is flexible and the rules are easy to apply. Because of this, Malta has become a destination especially attractive for companies interested in the technology BlockChain, as well as the sites of exchange of crypto-currencies. For example, the platform Binance, based in Hong Kong, has finally arrived in Malta and plans to hire no less than 200 people in a few weeks. Let’s not forget also that Malta offers a tax rate very attractive for international companies which locate on the island since it amounts to only 5 % on the profits.
A strategy is successful
Malta leads therefore a strategy that is very clear and wants to draw the exchange platforms, including those that are based in Japan, South Korea or Hong Kong. The small island nation wants to become a true reference at the international level, but it is not the only one in Europe, because Switzerland is also home to many start-ups, particularly within the canton of Zug, switzerland, now known as the Crypto-Valley.
Binance Logo / exchange platforms such as Binance settled in Malta.
That said, Malta is clearly distinguishable from the strategy being pursued by the other european countries. This is not a coincidence if, in November next will be held the conferences in Malta BlockChain Summit in 2018, an event that is particularly expected which will include the creations of tokens, crypto-currencies, the technology of BlockChain and the proposed regulation.
Source : Bitcoinist