Champion in the battle to attract fresh investments to the rapidly expanding market of cryptos, Malta seems to be evolving out of Switzerland and Gibraltar, which have so far been ‘pondering’ in this area.
As Bloomberg points out, so far are traditional shelters for investors who believe in the future of cryptos and the companies that promote them were so far Switzerland and Gibraltar. However, neither of them offers this, which Malta can give: direct and stable access to the single European Union internal market.
The regulatory future of Gibraltar is uncertain after Britain’s decision to leave the European Union, with investor concerns intensifying as the no-deal scenario in the Brexit negotiations intensifies.
“Malta remains in the European Union, and that’s not going to change,” said Crypto.com’s chief executive officer, Crypto.com, in an interview with Bloomberg. “I went to Gwittalar a while ago and were very open with the fact that there is uncertainty about what will happen. It has not changed anything since then, “he adds.
Malta is endeavoring to enter the market for cryptos, promoting the image of a “blockchain island”, without however missing the problems. The European Commission is preparing to issue a formal request to the country’s regulators to strengthen the framework for dealing with money laundering, according to the Financial Times.