Topic: [2017-08-04] Malta’s First Bitcoin ATM Triggers Warning From Financial Authority (Read 3351 times)

Malta’s First Bitcoin ATM Triggers Warning From Financial Services Authority

Malta’s financial regulator has issued a warning aimed to deter cryptocurrency adoption following the installation of the Malta’s first bitcoin ATM. Although the statement asserts that bitcoin is not regulated or authorized, it does not make threats against those who choose to use cryptocurrency.

The Media Coverage Garnered by the Nation’s First Bitcoin ATM Has Prompted Malta’s Regulators to Issue a Warning to Prospective Cryptocurrency Users

The installation of Malta’s first bitcoin ATM garnered significant local and international attention last week. Initially, a local cryptocurrency advocacy group had started a crowdfunding campaign to finance Malta’s first bitcoin ATM. Just days after the publication of stories detailing the campaign, a local Malta entrepreneur installed the nation’s first bitcoin ATM in Sliema.

The media coverage garnered by Malta’s first bitcoin ATM has prompted The Malta Financial Services Authority (MFSA) to issue a warning to prospective cryptocurrency users. Times of Malta reports that The MFSA states that “unlike traditional money, acceptance of payment in virtual currency depends entirely on the voluntary consent of the recipient. Furthermore providers of services in relation to virtual currencies are currently neither regulated by law nor authorised by the MFSA.”

https://news.bitcoin.com/maltas-first-bitcoin-atm-triggers-warning-from-financial-services-authority/