Why Malta is the most favored Location for Crypto Exchanges?

JohnBitCo

sr. member

Activity: 2030

Merit: 356

Quote from: Perunex on December 12, 2018, 10:55:49 AM

Malta is a winner, but just at the moment. I would like to see a competition between states, who gets most of the blockchain projects on their shore. That would mean that they would make very fast, good regulations and frames to operate with. Even government investments, subsidies would be possible.

Malta is no doubt leading from the front but the competition is still on. As more countries realize the importance of bitcoins, they will allow it legal in their countries and make it favorable for the traders and institutions to develop blockchain related business from their countries.

ATMD

member

Activity: 70

Merit: 12

Quote from: Perunex on December 12, 2018, 10:55:49 AM

Malta is a winner, but just at the moment. I would like to see a competition between states, who gets most of the blockchain projects on their shore. That would mean that they would make very fast, good regulations and frames to operate with. Even government investments, subsidies would be possible.

Yes, getting a head start is not a bad idea

Perunex

full member

Activity: 546

Merit: 111

FABA-BREAK THROUGH IN VENTURE CAPITAL MARKET

Malta is a winner, but just at the moment. I would like to see a competition between states, who gets most of the blockchain projects on their shore. That would mean that they would make very fast, good regulations and frames to operate with. Even government investments, subsidies would be possible.

horrifiedx1

member

Activity: 602

Merit: 11

Quote from: patarfweefwee on December 10, 2018, 11:14:04 PM

Well, that is a good news i guess. For one thing, countries like Malta have the insight and foresight to accept crypto currency to a point that they're allowing headquarters of exchanges be built in their country. I mean it is only a matter of time till mkre and more countries join in on it and be a Crypto currency friendly country

to develop a product, of course choosing a place that supports these products can develop rapidly. with the support of Malta, many exchanges set up their offices there, because there is a definite permit, so that they can move freely in accordance with their reach, besides that means the Maltese state has looked at the future of this technology

wuvdoll

legendary

Activity: 1442

Merit: 1025

Quote from: itssawai on September 17, 2018, 03:53:13 AM

We have seen some of the biggest crypto Exchanges, like Binance and OkEx moved to Malta and another bigger exchange Bittrex is also considering to open their office in Malta.

But why Malta?

One obvious reason is that the government announced in January that it was in the process of establishing a “Virtual Currency Act” and a “Digital Innovation Authority” and that both will provide a regulatory framework to allow crypto companies to operate.

Malta did similar with Gambling as well and it became a huge Gambling hub soon. Now, Malta wants to attract cryptocurrency businesses to its shores, and has already been successful in nabbing some of the biggest. The government had been promising to set up regulations for the industry and provide a better environment to them in future.

What else could Malta actually pull off? I mean they are a small country with no major export and they rely on other countries for so many things even including farming products as well. Hence, they need to bring money in from other countries to balance things out or they would be in major debt if they didn't have foreign money coming in constantly.

Since, they are a country that has been known to let casino and gambling world get online roots there and get tax income from those companies that yield billions of dollars every year without giving them a single headache reasons they have managed to profit from it and balance the sheets well. With crypto they will move further and if they can become a crypto hub for the world like they have been for gambling than they will become a very different version of Swiss banks.

patarfweefwee

member

Activity: 420

Merit: 14

Well, that is a good news i guess. For one thing, countries like Malta have the insight and foresight to accept crypto currency to a point that they're allowing headquarters of exchanges be built in their country. I mean it is only a matter of time till mkre and more countries join in on it and be a Crypto currency friendly country

Harlot

hero member

Activity: 1806

Merit: 672

This is the same to all countries. This crypto exchanges are focus on countries on where they could take advantage of the free market as they could actually monopolize their businesses if they set it up locally. Knowing that this countries have recognized cryptocurrencies as a legal kind of money this is the first hint that these countries are a potential income sources when it comes to their main business model. Malta is just one of the countries where this exchanges are establishing themselves in order to satisfy any existing or upcoming demand.

gentlemand

legendary

Activity: 2590

Merit: 3014

Welt Am Draht

The problem with a small jurisdiction becoming a 'crypto haven' is that they're vastly more vulnerable to pressure from bigger ones, let alone the global financial system. Malta can become as crypto friendly as it likes but if the big banks or the EU start to get antsy about it they're going to force Malta to bend to their will. Nowhere operates in a vacuum.

niteroy

member

Activity: 476

Merit: 17

Malta has shown a good example for other countries that it is possible to change the legislation of their country and attract capital, thanks to which the local economy is growing, infrastructure is being developed and new jobs are emerging. I think that this experience will be accepted by other countries when they see the potential opportunities and investments that can come to their country with the adoption of cryptocurrency at the legislative level.

Pab

legendary

Activity: 1862

Merit: 1012

Malta had friendly offshore banking system
But after Paradise Papers scandal EU took more close look to offshore banking and now they are no more so secret
Malta is saying that wants to be blockchain hub but what is that mean
Malta get warning from EU because they were selling Malta means EU passports
1 mln euro and you are EU citzen
So Malta is looking for incomes streams but his best incomes streams are still registered there casinos and bookies

shadyrifles

full member

Activity: 518

Merit: 101

Malta authorities are very positive on full adoption of blockchain and distributed ledger technology. This small island is becoming the attraction of exchanges and becoming the heaven for exchanges because the government has open doors for them. Blockchain can transform the transportation and education systems.

Umkar

member

Activity: 364

Merit: 10

Only thanks to the Prime Minister of Malta it became possible, for this it is enough to listen to what he said in relation to cryptocurrencies and their adoption in Malta: "We must be on the frontline in embracing this crucial innovation, and we cannot just wait for others to take action and copy them. We must be the ones that others copy," Prime Minister Joseph Muscat. This example shows that a progressive official can change the vector of development of his country.

alinapvlvch

member

Activity: 276

Merit: 10

anyway Malta has very strongly promoted in this question. and time the multisignificant exchanges have found the best conditions for work there, it speaks about something...

Sama517

jr. member

Activity: 196

Merit: 1

The government of Malta knows what it is doing. It is gradually preparing itself for a cryptocurrency companies headquarters in the future. They are very certain that cryptocurrency will rule the world and are already making their country a crypto tourist center.

vhns222

full member

Activity: 504

Merit: 105

Not only Malta bat there are other countries too, Singapur for example they are crypto friendly and all countries which are doing this now would be winners in future.

1Referee

legendary

Activity: 2170

Merit: 1427

Quote from: LeGaulois on November 08, 2018, 10:31:09 AM

When you think about it, there are only 2 companies that moved to Malta and we are happy as much that we say "Malta is the most favored location"

That's just the media effect, because they only highlight that what's interesting for people to read. What they don't tell you is that hundreds of startups, ICO's, services focusing on gambling, mining, investments, etc, are settled there because of how friendly it is, and we can expect the flood to continue.

Malta doesn't make a big deal out of allowing unregulated services to settle themselves there, which explains why they became that popular.

Quote from: LeGaulois on November 08, 2018, 10:31:09 AM

There are several others countries where a company can be located and operate without a problem. Germany, Luxembourg, France, Switzerland..

Of course, but they can't compete with Malta when it comes to taxation. Malta offers a complete package the main countries in Europe just can't compete with. What happens is that the strongest and most compliant crypto businesses remain in their country of origin, while the weaker ones flow into Malta with large numbers. Tells you a lot about this space actually.

Dasha88fed

member

Activity: 350

Merit: 10

Now many countries are developing legislation for the introduction of cryptocurrencies in the legal field. Malta just did it before other countries and will be a pioneer in the legalization of cryptocurrencies. In many ways, you can thank the Prime Minister of the country, Joseph Muscat, who is a real enthusiast of cryptocurrencies.

Veerashanka

newbie

Activity: 40

Merit: 0

Quote from: itssawai on September 17, 2018, 03:53:13 AM

We have seen some of the biggest crypto Exchanges, like Binance and OkEx moved to Malta and another bigger exchange Bittrex is also considering to open their office in Malta.

But why Malta?

One obvious reason is that the government announced in January that it was in the process of establishing a “Virtual Currency Act” and a “Digital Innovation Authority” and that both will provide a regulatory framework to allow crypto companies to operate.

Malta did similar with Gambling as well and it became a huge Gambling hub soon. Now, Malta wants to attract cryptocurrency businesses to its shores, and has already been successful in nabbing some of the biggest. The government had been promising to set up regulations for the industry and provide a better environment to them in future.

All other countries such as China, India have not formed any act or regulation of CryptoCurrency.More than that, these countries are treating CryptoWorld as Illegal, which is not a favorable environment for development of Blockchain community.
Malta is Attracting more Blockchain startups because
1. Favorable Rules and Regulations
2. Low tax or No tax
3. Available of Blockchain Developers
4. From entertainment to Gambling everything is Regulated with Less rules which also attarct and encourage Developers to move for Work.

andika2018

member

Activity: 700

Merit: 10

Quote from: zangleerb on September 20, 2018, 11:31:10 PM

Because they have cleary law for crypto and support crypto also. Malta have a long view of the development of crypto. You can be supported by both Malta community and Government.

Malta choosed by most company because they have good regulation about cryptocurrency. Cryptocurrency community just need regulation that allowing them to innovate and i think Malta provide it

Ewinsane

hero member

Activity: 980

Merit: 523

It is actually not just crypto but many online business that has gray zones in other countries. Casinos are the same, exchanges are the same. If you are in Malta and incorporated in Malta than you do not have to worry about anything since you can just start a business pay your taxes and be fine with it. Of course it is not as wide as thinking Malta will allow you to sell drugs and pay taxes or something, it is just good for many type of business' and there are less headaches for them.

Malta is a small island country and most of their income comes from online places opening up there and paying taxes, people of the country is paying less taxes than the foreign companies that pays taxes there. I think it is a governmental decision that made Malta what it is today.

Topic: Why Malta is the most favored Location for Crypto Exchanges? (Read 749 times)