Malta and crypto

The CC Forums

Admin
Staff member
The crypto news keeps coming out of Malta, so I decided we need a Maltese thread. Binance’s move to Malta has been well-publicized, but there’s plenty more news.

Binance creating a decentralized “bank” according to CCN. To be based in Malta. Apparently it will be token based like several exchanges including Binance.


The aptly titled, Founders Bank will now be providing what it terms as ‘progressive fintech solutions to the world of innovation and blockchain’. The project is a collaboration between the world’s largest cryptocurrency exchange by turnover, Binance and the blockchain-based equity fundraising platform Neufund.

Founders Bank claims that it will become the first stable and high tech banking solution not only focused on the founders, but also owned by them, bridging the gap between the traditional financial world and innovative crypto companies.

 

CryptoTC

Crypto Fat Cat
Malta is the place to be for crypto in 2018. Other countries should take notice. Pass friendly regulations that encourage growth or lose jobs, tax revenue, and everything that goes with all of that.

UnikoinGold has there own Malta news from this week. They’re partnering with Bittrex to create a crypto bank called Palladium. They’re calling the token-based bank project an ICCO since the tokens sold during the offering can be converted to a security for an ownership share after 3 years.

Introducing Palladium Bank and Palladium Exchange, a Joint Venture with Bittrex

Palladium will become the first regulated unified platform for fiat banking and cryptocurrency exchange, meaning users will be able to make cryptocurrency payments for their bills, buy crypto from their checking account, or swap crypto assets without needing multiple wallets and accounts, all from a single platform. Palladium Exchange, powered by Bittrex, will be the first regulated exchange to allow both security and utility tokens to be transacted.

The project is regulated by a European directive prospectus which is already approved, the first ever, and nothing like this exists in the world.

Palladium will further make history by holding the world’s first-ever initial convertible coin offering (ICCO) which will give our investors an actual convertible warrant for actual partial ownership of the company, creating direct investor participation.

It’s designed to effect sweeping change in crypto and fintech by allowing users to buy, sell, trade, and save in any currency — crypto or fiat — within a fully legal and regulatory compliant framework.

In a new joint venture with Bittrex, Palladium and Bittrex are building a brand-new exchange — we are in the middle of acquiring our banking license while creating a network that will allow the two to interact and communicate within modern regulation
.”

Interesting to see if there is enough adoption to make paying bills with crypto cost effective. I can pay with bank or credit cards now with extremely low fees and fast transaction times. If I have to have an intermediary processing the payment from fiat to crypto to another company then back to fiat, I’m probably not interested. It seems to go against the peer to peer focus of crypto eliminating the middle man. This appears on the surface to be adding another middle man. Time will tell, but it doesn’t seem to be the best move to me.
 

CryptoTC

Crypto Fat Cat
More out of Malta:

Building a crypto security token exchange according to Coindesk.

Malta Stock Exchange Inks Deals to Build Security Token Exchanges - CoinDesk

MSX, the newly launched fintech arm of the Malta Stock Exchange, has inked several new deals aimed at creating new marketplaces for tokenized securities.

The newly inked deal sees MSX team up with Neufund, a platform for securities tokenization and issuance, to build a "regulated and decentralized, global stock exchange for listing and trading tokenized securities alongside crypto-assets," according to a press release.



This seems to be similar to my discussion in the UnikoinGold section about their plans to partner with Bittrex to form a crypto bank and issue coins that can become securities. Presumably their tokens would then be tradable on the Malta crypto exchange platform? I remain confused about where all the interest and demand for crypto banks is going to come from. I remain confused about who’s trading and exchanging what. In other words, I’m confused. o_O
 

CryptoTC

Crypto Fat Cat
Bumping my own thread.

Anyone hear anything new out of Malta? 2 weeks seems like 2 years in the crypto news cycle.
 

The CC Forums

Admin
Staff member
Bumping my own thread.

Anyone hear anything new out of Malta? 2 weeks seems like 2 years in the crypto news cycle.

Probably not much will be said while they are implementing these new regulations.

Malta Says Crypto Rules Aren't Yet In Force - CoinDesk

The government is currently developing the "Virtual Financial Assets Framework," which will complement "The Virtual Financial Assets Act," according to the announcement.

Until such a time as this framework is complete, the MFSA is not yet in a position "to start receiving request for approvals and authorizations under the Act."

Nor is it clear when the framework will take effect. The announcement notes that the bill will not take effect until "such date as the Minister for Digital Economy may establish by notice in the Government Gazette."


The bolded sentence is key. Not clear when the regulations will be in effect.
 

CryptoTC

Crypto Fat Cat
After a few weeks without any new announcements, another exchange is discussing moving to Malta to take advantage of their crypto friendly policies.

https://www.ccn.com/another-top-5-cryptocurrency-exchange-plots-move-to-maltas-blockchain-island/

ZB.com, the world’s fith-largest cryptocurrency exchange by daily trading volume, is setting up shop on the sunny Blockchain Island.

The company is planning on moving its European business to a new headquarters located within Malta. ZB.com doesn’t do business in the US at this time. They are currently a crypto to crypto only trading exchange, but they have plans to offer fiat-crypto pairs in the future.

Start date has not been determined, which also applies to the other exchanges that have announced plans. Regulations have not yet gone into effect.

There is still no tangible exchange which has started up yet since the blockchain laws will not come into effect until Oct. 1.

ZB.com currently trades $400 million per day volume. I’m additon to crypto to crypto trades, account owners can park money in Tether when they wish to sit on he crypto sidelines.
 

CryptoTC

Crypto Fat Cat
University of Malta is now getting into the arena by offering up a $350k (USD) scholarship fund to stimulate blockchain studies.

University of Malta Launches Blockchain and DLT Scholarship Fund

University rector Alfred Vella said that the university is looking to integrate units relating to DLT, blockchain, digital currencies, artificial intelligence (AI), fintech, and regtech into degree and Master’s programs in law, finance, ICT, and other fields.

This makes sense because Malta will see an increase in blockchain and DLT jobs as crypto companies move operations there.
 

Old Man Crypto

Expert chainblocker
University of Malta is now getting into the arena by offering up a $350k (USD) scholarship fund to stimulate blockchain studies.

University of Malta Launches Blockchain and DLT Scholarship Fund

University rector Alfred Vella said that the university is looking to integrate units relating to DLT, blockchain, digital currencies, artificial intelligence (AI), fintech, and regtech into degree and Master’s programs in law, finance, ICT, and other fields.

This makes sense because Malta will see an increase in blockchain and DLT jobs as crypto companies move operations there.


Great. I should move to Malta and follow my retirement dreams of working in blockchain until I’m 95. Then I’ll retire to a nice island nation somewhere in the Mediterranean with beaches.

Oh wait. :D
 

CryptoTC

Crypto Fat Cat
Great. I should move to Malta and follow my retirement dreams of working in blockchain until I’m 95. Then I’ll retire to a nice island nation somewhere in the Mediterranean with beaches.

Oh wait. :D

You’d have to qualify for the scholarship. Can you remember your GPA? Did they record it in Roman numerals when you were young?
 
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