Why Malta is the most favored Location for Crypto Exchanges?

JohnBitCo

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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

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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

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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

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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

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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.

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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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.

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

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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

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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.

LeGaulois

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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" People say Malta is smart and open regulations about cryptocurrencies but they did nothing. They just gave their approval to accept 2 companies related to cryptos.
There are several others countries where a company can be located and operate without a problem. Germany, Luxembourg, France, Switzerland..

sinkfish

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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 smart, they sees the opportunity. they think 1 step ahead.

zhanyiguai261315

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The government's support for blockchain and cryptocurrencies has led to an investment by investors across the country that will attract cryptocurrencies!
In the future, Japan, Ukraine, Russia, and some countries in Iran will become hot countries in the development of cryptocurrencies!

jostorres

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Quote from: Fenderr on October 17, 2018, 10:04:53 AM

All I'll say is that the government is smart, progressive and visionary. They know that the cryptocurrency industry has come stay and they can actually profit from it, including their citizens by putting in place the right regulatory frameworks and policies.

That is the thing! When you have a government that is most especially visionary, can easily see what no one can see, and they have the zeal to want to see the space as well as their economy thrive, coming up with regulatory and lenient framework for regulation will not be a hard thing at all.

Also, businesses tend to move to a region where they are accepted. It is just like normal humans, we drift towards a space or an alternative, where you know you will most definitely thrive, so the fact that Malta is a favored location for crypto exchanges and even businesses is just as a result of how Malta has decided to accept the growth of cryptocurrency businesses.

Kemarit

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Quote from: Osarman on October 16, 2018, 08:29:19 AM

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

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 ?

Everyone already explained why malta is a favored location but we are also forgetting one other place. Limassol crypus. Those dudes are making a killin from taxes by the porn community and I think crypto is moving there small by small, for example all the exchanges near there is based on cyrpus and owners are making it work somehow. All the known porn websites like xhamster is based on limassol and there are a lot of online gambling casinos based there as well. The country is a stable one and there hasn't been a problem there since 70's hence there are a lot of business investments easily done there.

To be honest, first time for me to hear about Limassol, Crypus. So its pretty obvious that those tiny nations has somewhat found a not so secret formula to help their economy grow but attracting big companies to head quarters in their country because of the lax on tax and giving them huge incentives and privileges. Trading exchanges like Binance and OKex has moved to Malta already and there is a news the Changelly might follow suit as well. So its a win-win situation, specially for crypto enthusiast around globe and hope that other tiny nations will also do the same to make crypto even more adoptable in the next coming years. Asia is also moving on that kind of direction, countries like Hong Kong, Singapore and even the Philippines is slowly moving into a positive regulations towards crypto.

Bitcotalk

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Quote from: spongegar on November 06, 2018, 01:13:25 AM

I think you already answered ypur own question. Malta in fact is a pro crypto currency country that already have laws in place to protect holders of crypto currency. Obviously companies related to crypto currency will go to a pro crypto currency nation to protect their interests.

One thing I have always known in this life is that wherever you know you will do well or wherever you think you are accepted without having to worry about some principles that will affect your business, and you see a lot of things in place that would make the environment friendly for business, then that is where you will most definitely want to float towards.

Malta has shown a great interest for the development of the crypto sphere as well as its growth, have brought about friendly environment for crypto organizations and businesses, and of course, there is nothing else to expect than for businesses to find a haven where they know they can basically flourish.

Douglasyukanov

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Malta is a small archipelago south of Europa, whose government has set up the crypto platform and has the most friendly jurisdiction for the cryptocurrency sector, so it is not surprising that many well-known companies / crypto exchanges open offices in malta.

magneto

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You pretty much nailed the reason.

It all comes down to whether or not the government is supportive of crypto businesses or not. Malta is obviously really one of the countries that are pushing for crypto regulation with some pretty nice incentives for businesses who do want to be based in their country.

Ultimately, I think this is the way to go forward. Instead of being negative towards bitcoin with countries like India with their draconian measures, I reckon it's going to benefit the government as well as crypto businesses to actively try to regulate the exchange scene with positive regulation without overly strict rules, as the revenue in the future would be tremendous.

nur rochid

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Quote from: senyorito123 on November 06, 2018, 05:48:05 AM

As we observe many Crypto exchange and Cryptocurrency companies are now transferring in Malta because this country is Cryptocurrency friendly and the government think if many Cryptocurrency exchanges will making business to there country many of there countrymen can get a job and helps to improve there economy,and also Malta is giving guarantee to the Cryptocurrency exchange owners and companies that they get only small tax to them that's why many Cryptocurrency exchanges now are engage to transfer in Malta.

while many countries have not allowed it, Malta made a different breakthrough, making it a haven for cryptocurrency. of course the government there has calculated well between profit and loss, and this can be an example for other countries

senyorito123

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As we observe many Crypto exchange and Cryptocurrency companies are now transferring in Malta because this country is Cryptocurrency friendly and the government think if many Cryptocurrency exchanges will making business to there country many of there countrymen can get a job and helps to improve there economy,and also Malta is giving guarantee to the Cryptocurrency exchange owners and companies that they get only small tax to them that's why many Cryptocurrency exchanges now are engage to transfer in Malta.

eaglewhite80

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Quote from: spongegar on November 06, 2018, 01:13:25 AM

I think you already answered ypur own question. Malta in fact is a pro crypto currency country that already have laws in place to protect holders of crypto currency. Obviously companies related to crypto currency will go to a pro crypto currency nation to protect their interests.

Yeah, over the years, we have seen the level of hand that Malta has stretched out to the crypto space when it comes to acceptance and that is one thing that is hard to come by, and I am sure, they are pretty smart or they have a government with a huge vision, who understands that rather than fighting the crypto space for no reason, there is so much to benefit from it. We have seen what most of the exchanges are raking in from trading, and I can imagine how that would keep having an impact on the Maltese society at large in the long run.

cabron

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Must be a real great country to stay on. They are attracting all these innovators and gambling investors to invest in their country. The government can probably stand on its own without taxing their people but only the institutions who go there to put more offices and businesses relate to crypto. Kind like of a Hong Kong or Singapore in Asia.

spongegar

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I think you already answered ypur own question. Malta in fact is a pro crypto currency country that already have laws in place to protect holders of crypto currency. Obviously companies related to crypto currency will go to a pro crypto currency nation to protect their interests.

Fenderr

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All I'll say is that the government is smart, progressive and visionary. They know that the cryptocurrency industry has come stay and they can actually profit from it, including their citizens by putting in place the right regulatory frameworks and policies.

kaya11

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It is easy to say that who ever gets the attention first would take a lead in a new economy where crypto is the primarily payment methods in the world. We would not be surprised in the future governments would open establishments for mining company where they could mine with almost 0 electricity rate but what country could that be?

Osarman

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

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 ?

Everyone already explained why malta is a favored location but we are also forgetting one other place. Limassol crypus. Those dudes are making a killin from taxes by the porn community and I think crypto is moving there small by small, for example all the exchanges near there is based on cyrpus and owners are making it work somehow. All the known porn websites like xhamster is based on limassol and there are a lot of online gambling casinos based there as well. The country is a stable one and there hasn't been a problem there since 70's hence there are a lot of business investments easily done there.

denuhaqiqi

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Malta government makes crypto friendly regulations, their open attitude will create good conditions for investment. but not only was Malta open to crypto, I had read that Switzerland and Gibraltar were also a haven for cryptocurrency investors.

rickyharun

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Quote from: andriarto on September 26, 2018, 11:08:09 AM

Quote from: KalaiBTC on September 26, 2018, 04:17:07 AM

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.

of course, a government that accepts bitcoin will be the main destination for bitcoiners. and now Malta is prosperous, because we know gambling and beaches are a favorite destination for tourists

their regulation and government open minded with technology developtment.they consious by accepting cryptocurrency, it will give good impact to their country developtment.especially from taxes if its already legalize there.

andriarto

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Quote from: KalaiBTC on September 26, 2018, 04:17:07 AM

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.

of course, a government that accepts bitcoin will be the main destination for bitcoiners. and now Malta is prosperous, because we know gambling and beaches are a favorite destination for tourists

xtraelv

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Quote from: jseverson on September 26, 2018, 07:34:14 AM

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.

Malta is an ideal base for those aiming for the European, Middle Eastern, African and Asian markets.

Small country means the Government is easily accessible but also still seen as legitimate by other countries.

There are major benefits from having easy, open access to top Government officials and politicians.

Some exchanges avoid the US market because it is a risky market to operate in. SEC, lawsuits, unfavorable regulations, local Government interference are just a few reasons to avoid being located in the USA.

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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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.

hugeblack

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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

itssawai

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Quote from: butka on September 17, 2018, 04:04:04 AM

You have said it all. They have been quick to recognize that the crypto space is on the forefront of innovation currently, and they have been quick to regulate it. Now, Malta is the first country with totally regulated crypto space. This includes rules about running blockchain technology, exchanges, wallets, ICOs, etc. They say they are not looking at short term gains, they are interested to become a long term destination. People running these new technologies need legal protection, and, as we can see right now, they will move to a country that provides certainty and security.

What I would like to know is how they manage to harmonize this legislation framework with the laws of the European Union, whose member state they are. Correct me if I'm wrong, but as far as I know, the EU doesn't look so favorably at crytpo-currencies.

I'd like to see bigger nations to follow the lessons from this little island and together we can create a great environment for crypto globally. European countries like Czech Republic are also moving in this direction.

butka

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You have said it all. They have been quick to recognize that the crypto space is on the forefront of innovation currently, and they have been quick to regulate it. Now, Malta is the first country with totally regulated crypto space. This includes rules about running blockchain technology, exchanges, wallets, ICOs, etc. They say they are not looking at short term gains, they are interested to become a long term destination. People running these new technologies need legal protection, and, as we can see right now, they will move to a country that provides certainty and security.

What I would like to know is how they manage to harmonize this legislation framework with the laws of the European Union, whose member state they are. Correct me if I'm wrong, but as far as I know, the EU doesn't look so favorably at crytpo-currencies.

itssawai

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Look ARROUND!

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.

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