The Government of Malta is engaged in the vision of the "Blockchain Island" despite the criticism


The government of Malta has responded to the recent statements by the leader of the opposition, Adrian Delia, on his silence and inertia regarding the cryptocurrency market.

Engaged in the "Blockchain Island" vision

In an interview with the Nationalist Party NET FMDelia stated that the prolonged criptocurrecy bear market has been a matter of concern for many stakeholders.

He expressed concern about the government's silence on the matter by saying that investors had the right to know the position of the government given the market situation. For Delia, the silence of the government is in stark contrast to its claim to commit to making Malta "the global blockchain island. '

According to Independent Malta, the government is taking action Improve the normative panorama of the local cryptocurrency of the country. Most of these efforts are coming through the Parliamentary Secretariat for Financial Services, the Digital Economy and Innovation.

For the Secretariat, the focus is on creating a favorable environment for all interested parties to thrive in the market. So, the government says it is trying to balance regulations with investor protection.

In 2018, the island nation of the Mediterranean has established itself as a preferred destination for many cryptocurrency companies. The exchange platforms, in particular, have chosen to move their activities in the country. Many of these platforms have supported unfavorable regulations in their previous positions as the reason for the movement.

Binance, OKEx, BitBay and Zebpay were some of the most important trades to make the move in 2018. This influx of high-volume trading platforms has catapulted the small nation to the top of the global rankings of cryptocurrency transaction volume.

Regulation of the local cryptocurrency sector

In mid-2018, Malta became the first nation to provide & # 39;legal certainty& # 39; For cryptocurrencies. The national parliament has approved three draft laws as part of efforts to strengthen cryptological regulations in the country.

Both Binance is OKEx agreements signed with the Maltese Stock Exchange (MSX) to create regulated security token exchange platforms. The move was part of the growing appeal of security tokens that gained a lot of steam in 2018.

Do you think there are merits regarding Delia's statements regarding the government's inaction on the cryptocurrency?? Let us know your thoughts in the comments below.

Image courtesy of Malta Today, Shutterstock

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