[2017-04-27] No Reason to Run Bitcoin and Blockchain Business in Malta

[Nina Lyon]

There is no reason to run a Bitcoin or Blockchain business in Malta if you are in the EU. Bitcoin lawyers, entrepreneurs, and traders from Malta consider the local government to talk more than support the blockchain.

Joseph Muscat, the prime minister of Malta, is known as a great supporter of Bitcoin and blockchain. Recently, he stated at a conference organized by Malta’s financial affairs parliamentary committee:

“This is not just about Bitcoin, and I also look forward to seeing blockchain technology implemented in the Lands Registry and the national health registries.”

Read more: https://coinidol.com/no-reason-to-run-bitcoin-business-in-malta/

[Qartada]

Running businesses in other countries tells the one you're in that you don't matter.

Look at it from the EU's perspective - a few hundred businesses or so (nothing to them) which they're expected to research thoroughly and be really nice to just because it's a "new technology".  If I were them, I would be inclined to regulate it heavily as well because it's so hard to predict what people would do with it for a fairly small niche.

If people run their businesses in the EU, they're more of a force when the EU is talking about regulation - can't just run away, especially when it's harder for small businesses to start because they have to go through the work of registering in Malta.

[veleten]

the article contradicts itself:no reason to run bitcoin and blockchain business in Malta,however the prime minister is
a staunch supporter of bitcoin and blockchain technology and wants to introduce it in Malta
if the goverment of Malta wants to make money and be the europe's first country to actively support bitcoin businesses
there is a unique opportunity to legalise bitcoin before Britain exits EU and reap the rewards
but investment in blockchain technologies (which is what the prime minister is promoting) is not same as making bitcoin legal,so I don't think it will happen in Malta any time soon

[kreskko]

Despite the fact that the European Union is one financial economic zone, but at the same time, the laws of the countries that are members of this Union are quite different, that is why not all have strict laws for organizing and conducting business, there are also good options.