Why Malta is the most favored Location for Crypto Exchanges? - page 3.

jseverson

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Quote from: aencarnaci on September 23, 2018, 02:46:41 AM

Why would I select to open a company in USA, UK, France, Germany or similar and be strictly followed and pay insane amount of taxes when I can bring my business to Malta and make boatloads of cash right on day 1 without worrying about government putting its nose in my business ?

Well it's advantageous to operate your business where most of the user base are. There's also a sense of security that comes with dealing with a company that doesn't operate from somewhere not much people don't know about.

Malta is hands-down better policy-wise just because of clarity alone, don't get me wrong, but if it were such a no-brainer, everyone would be packing up to go.

BitHodler

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Quote from: aencarnaci on September 23, 2018, 02:46:41 AM

Why would I select to open a company in USA, UK, France, Germany or similar and be strictly followed and pay insane amount of taxes when I can bring my business to Malta and make boatloads of cash right on day 1 without worrying about government putting its nose in my business ?

It still isn't a guarantee that the government won't do anything to you as exchange or service when you have settled yourself in Malta. If they really want something from you, they'll get it regardless of where you are.

Historically speaking, governments have done it numerous times already with other businesses in Malta, so why would it be different when it comes to crypto? Doesn't make much sense to me.

The US government has its roots pretty much in every country and they are called the world police for a reason. Malta offers more freedom for businesses overall, but definitely isn't the safe haven people think it is.

KalaiBTC

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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.

That’s true, and apart from just that I also think that other countries are kicking against Bitcoin (not really all of them) but they have rules that doesn’t really favor cryptocurrency, so maybe that’s also for all of them to be moving to Malta, and by the way the government of Malta is keeping an open arms for it, so that will be the best place for it.

aencarnaci

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Malta AND Cyprus, both have amazing tax haven laws that allows you to have any type of website you want and easy to open one up in couple days plus pay very little to sometimes even no taxes for the profits you make, this one would you prefer if you were a new business, a quickly established cheap option or a months of regulations with high taxes ?

Why would I select to open a company in USA, UK, France, Germany or similar and be strictly followed and pay insane amount of taxes when I can bring my business to Malta and make boatloads of cash right on day 1 without worrying about government putting its nose in my business ?

ecnalubma

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www.Artemis.co

Countries who embrace this technology will have a good headstart towards blockchain race, those who are rejecting will be left behind. Those countries that adopts saw potential and value of crypto, it plays an important role specially in developing countries will also boost their economy and will create additional jobs.

NikNight

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It all looks like this, if the gambling business is developed in Malta, then let's send there crypto-currencies. As well as some of the states of USA are trying to promote crypto-currencies. Here, the number of players and the number of crypto-enthusiasts will be approximately the same. It upsets me. It is necessary not to send new technologies to the islands, but it needs to develop everywhere.

Olalomi

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Concentration of crypto exchanges in malta will create enabling environment for trading and businesses to thrive thus open up job opportunities while the government will generate income in form of taxes and more infrastructures will be put in place for rapid development of that country by those exchanges.

creeps

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Maybe because Malta is more cryptofriendly than any other countries although there are still some countries who accepts also cryptos but maybe investors really a big potential on that place. I'm following a project for months now and its MB8Coin which is also base from Malta, I think this can also be a good project. We will see more countries like this, and hopefully my country will become more crypto friendly.

bitbunnny

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WOLF.BET - Provably Fair Crypto Casino

Quote from: hugeblack on September 17, 2018, 06:45:16 AM

It is not only Malta, but some countries decide to take advantage of cryptocurrency as Uzbekistan[1].
The link between these currencies and the dark activities has been reduced, so some countries are trying to make gains by enacting some laws to attract large companies.
So Malta will not be the only countries to do so. Other countries may offer better opportunities.

[1] Uzbekistan opens the door to Cryptocurrency Exchanges, Offers Tax Benefits

Exactly, there are some other countries, I would also add Netherlands who is also country very friendly to cryptocurrencies.
But Malta has made step further and like with some other industries and activities used the very best for it's own favour. Government has recgonized huge potential of cryptocurrencies and they as a small and not important country on.a global scene have to take all opportunities they have to survive and grow as well as provide well being for their people.
So, cryptocurrencies are just one tool they use to achieve that.

Dimon8

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Malta is a small state that is on an island. The main income of the state is the tourism industry and related products. The Government of Malta decided to take measures to increase the filling of the state treasury by raising funds from the settlement of the cryptography.

arnaudel98

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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.

I don't have any other ideas since i never heard about Malta involve with crypto currency. But it might possible there government are with crypto currencies.

jjohnathn

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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.

I think there government are supporting bitcoins and want to promote it. I wasn't aware about such thing i thought that all countries are against bitcoin. Anyways glad to hear there's still some countries which are supporting bitcoins.

MrRiuss

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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.

malta is a "tax paradise". not only for cryptocurrencies, but for all of the financial products.

Gabali126

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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.

This is very good for the country as this decision by the government has continued to attract several crypto tourists to the small country.

LeGaulois

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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.

It's all about paying the lesser taxes as possible for a company lol. There are a lot of crypto-friendly countries and Malta isn't the most open mind, there some more than Malta. But it's all about attracting startup in the countries to collect their taxes. Malta created a "friendly" system and then companies have been welcomed. But if it wasn't about the millions of dollars swimming in the pool, Malta wouldn't care about a company in the crypto industry...
Money and capitalism matter...

enhu

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Yep I've read the article about the countries adopting crypto and Malta is the number of one. It would be reasonable for the crypt exchange to establish offices and probably move their main office in Malta. I guess if we all are going to be richer one day, we'd probably be setting up meeting in the country. Their government went ahead to approach the adoption of the virtual currencies.

Primaryio

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The EU is looking at cryptocurrency regulation but so far hasn’t issued any details. That’s given Malta the chance to take the lead in drawing up its own framework. If the EU develops a more coordinated, and tougher, regime for cryptos, that could mean Malta becomes less accommodating. Malta is also trying to attract blockchain businesses, a strategy that may insulate it from any broader digital-currency fallout. Malta is trying to pull the center of the crypto-trading world to the west. Malta has the lowest corporation tax rates in the EU and, while working hard to shake-off a persistent tax haven label, has been eager to promote itself as a fin-tech and crypto hub.

sunsilk

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That's it why its favorable for these exchanges to go and have their business operation on Malta. It's one of the best countries now that adopted cryptocurrencies and has appropriate law for the adoption.

No tax after 183 days, correct me if I'm wrong on this thing. Seems to be one of the biggest favor for a business but its not only for them but for too many crypto people.

Quote from: hugeblack on September 17, 2018, 06:45:16 AM

So Malta will not be the only countries to do so. Other countries may offer better opportunities.

Yeah that's for sure that other countries who see positive result will follow Malta's footstep.

panfils

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Because Malta understood the crypto-potential and they made some crypto-friendly laws.
This is what every country should do instead of keep spreading FUD around this world.
I hope a lot of big countries will open their eyes soon.

zangleerb

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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.

Topic: Why Malta is the most favored Location for Crypto Exchanges? - page 3. (Read 749 times)