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Malta: A Potential Hub For Cryptocurrency Companies?

Prime Minister of Malta expresses his support for cryptocurrency and blockchain, and may open his shores to cryptocurrency companies.
Cryptocurrency has been having a bad reputation with governments due to its anonymous nature, especially in regards with money. Just last week there have been talks that Binance, one of the biggest exchange of the world, has been required to halt all operations within Japanese borders.
The day after the announcement, Binance’s CEO announced that they are planning to move their headquarters to Malta.
The Republic of Malta is an archipelago in Southern Europe. It has a population of 400,000 and an area of 316 km2.
In an address in a political rally on Sunday, March 25, 2018 [3], Prime Minister Joseph Muscat announced that the country is in talks with a number of potential cryptocurrency investors who want to move their businesses to the country. Declaring that a number of companies have already moved or are making plans to move.
With the potential influx of these tech companies, the Prime Minister expressed the need for a robust regulatory framework for the country’s cryptocurrency market. He says that crypto companies moving into his shores are doing so because of their confidence in the government in creating a proper regulatory framework for the market and not for the tax benefits.
Either the current policies will be improved or cryptocurrency companies are moving to where it is optimum for their business operations.

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