How Malta became the center of the crypto industry world

welyam (40)in #destasteem • 7 years ago

Two thirds of the largest crypto exchange market in the world today plan to move to Malta, and it is likely that soon other participants from this market will follow their example. What attracts crypto entrepreneurs on a small island in the Mediterranean?

The center of the crypto industry in the world, Malta has become thanks to the efforts of the government of this country, said Bloomberg. While many countries, concerned about the growing interest in crypto currency, are trying to restrict or even completely ban operations with them, the most favorable conditions are made for this market in Malta.

Maltese legislators work today to complete the trading, brokerage and brokerage brokering jobs, and do so in such a way that market participants are confident of their future. Do not forget about the favorable tax policy - the effective tax rate for international companies in Malta is only 5%.

Of course, the opportunity to do transparent and legal business can not help attracting crypto entrepreneurs who regularly suffer fraud, hacker attacks and unpleasant legislative surprises.

In Asia, such as "kriptovalyutnye hub" already exists (in the first place, we are talking about Japan, South Korea and Gonkoge), so the Asian market now accounts for a significant proportion of the world trade cryptocurrency. However, everything is far from perfect there.

After several cases of fraud and theft, the Japanese authorities tightened the rules for crypto-exchange operations. The position of Hong Kong and Korean regulators is also uncertain. So the creation of another hub in Europe (where previously only Switzerland is such a position) is of strategic importance to the world's crypto currency market.

One of the largest exchange exchanges, Binance, has announced a move to Malta. The same is planned by many other crypt companies - for example, Tron, OKEX, Neufund and The Abyss.

According to Maltese officials, the Crypto currency is "the inevitable future of money", meaning that they will form the basis for the entire world economy. In the short term, the benefits of Malta are also evident - a favorable atmosphere for the industry will help the country create new jobs and spur economic activity. Binance itself plans to hire about 200 employees in Malta, which is significant enough for an island with a population of only 437,000 people.

It is interesting that Malta became the first member of the EU to follow this path. The EU authorities are only studying the possibility of legalizing the crypto currency market, and the experience of the island nation will have a serious impact on these plans.