Why Malta is the most favored Location for Crypto Exchanges?

[itssawai]

We have seen some of the biggest crypto Exchanges, like Binance and OkEx moved to Malta and another bigger exchange Bittrex is also considering to open their office in Malta.

But why Malta?

One obvious reason is that the government announced in January that it was in the process of establishing a “Virtual Currency Act” and a “Digital Innovation Authority” and that both will provide a regulatory framework to allow crypto companies to operate.

Malta did similar with Gambling as well and it became a huge Gambling hub soon. Now, Malta wants to attract cryptocurrency businesses to its shores, and has already been successful in nabbing some of the biggest. The government had been promising to set up regulations for the industry and provide a better environment to them in future.

[butka]

You have said it all. They have been quick to recognize that the crypto space is on the forefront of innovation currently, and they have been quick to regulate it. Now, Malta is the first country with totally regulated crypto space. This includes rules about running blockchain technology, exchanges, wallets, ICOs, etc. They say they are not looking at short term gains, they are interested to become a long term destination. People running these new technologies need legal protection, and, as we can see right now, they will move to a country that provides certainty and security.

What I would like to know is how they manage to harmonize this legislation framework with the laws of the European Union, whose member state they are. Correct me if I'm wrong, but as far as I know, the EU doesn't look so favorably at crytpo-currencies.

[itssawai]

You have said it all. They have been quick to recognize that the crypto space is on the forefront of innovation currently, and they have been quick to regulate it. Now, Malta is the first country with totally regulated crypto space. This includes rules about running blockchain technology, exchanges, wallets, ICOs, etc. They say they are not looking at short term gains, they are interested to become a long term destination. People running these new technologies need legal protection, and, as we can see right now, they will move to a country that provides certainty and security.

What I would like to know is how they manage to harmonize this legislation framework with the laws of the European Union, whose member state they are. Correct me if I'm wrong, but as far as I know, the EU doesn't look so favorably at crytpo-currencies.

I'd like to see bigger nations to follow the lessons from this little island and together we can create a great environment for crypto globally. European countries like Czech Republic are also moving in this direction.

[hugeblack]

It is not only Malta, but some countries decide to take advantage of cryptocurrency as Uzbekistan[1].
The link between these currencies and the dark activities has been reduced, so some countries are trying to make gains by enacting some laws to attract large companies.
So Malta will not be the only countries to do so. Other countries may offer better opportunities.

[1]  Uzbekistan opens the door to Cryptocurrency Exchanges, Offers Tax Benefits

[zangleerb]

Because they have cleary law for crypto and support crypto also. Malta have a long view of the development of crypto. You can be supported by both Malta community and Government.

[panfils]

Because Malta understood the crypto-potential and they made some crypto-friendly laws.
This is what every country should do instead of keep spreading FUD around this world.
I hope a lot of big countries will open their eyes soon.

[sunsilk]

That's it why its favorable for these exchanges to go and have their business operation on Malta. It's one of the best countries now that adopted cryptocurrencies and has appropriate law for the adoption.

No tax after 183 days, correct me if I'm wrong on this thing. Seems to be one of the biggest favor for a business but its not only for them but for too many crypto people.

So Malta will not be the only countries to do so. Other countries may offer better opportunities.

Yeah that's for sure that other countries who see positive result will follow Malta's footstep.

[Primaryio]

The EU is looking at cryptocurrency regulation but so far hasn’t issued any details. That’s given Malta the chance to take the lead in drawing up its own framework. If the EU develops a more coordinated, and tougher, regime for cryptos, that could mean Malta becomes less accommodating. Malta is also trying to attract blockchain businesses, a strategy that may insulate it from any broader digital-currency fallout. Malta is trying to pull the center of the crypto-trading world to the west. Malta has the lowest corporation tax rates in the EU and, while working hard to shake-off a persistent tax haven label, has been eager to promote itself as a fin-tech and crypto hub.

[enhu]

Yep I've read the article about the countries adopting crypto and Malta is the number of one. It would be reasonable for the crypt exchange to establish offices and probably move their main office in Malta. I guess if we all are going to be richer one day, we'd probably be setting up meeting in the country. Their government went ahead to approach the adoption of the virtual currencies.

[LeGaulois]

We have seen some of the biggest crypto Exchanges, like Binance and OkEx moved to Malta and another bigger exchange Bittrex is also considering to open their office in Malta.

But why Malta?

One obvious reason is that the government announced in January that it was in the process of establishing a “Virtual Currency Act” and a “Digital Innovation Authority” and that both will provide a regulatory framework to allow crypto companies to operate.

Malta did similar with Gambling as well and it became a huge Gambling hub soon. Now, Malta wants to attract cryptocurrency businesses to its shores, and has already been successful in nabbing some of the biggest. The government had been promising to set up regulations for the industry and provide a better environment to them in future.

It's all about paying the lesser taxes as possible for a company lol. There are a lot of crypto-friendly countries and Malta isn't the most open mind, there some more than Malta. But it's all about attracting startup in the countries to collect their taxes. Malta created a "friendly" system and then companies have been welcomed. But if it wasn't about the millions of dollars swimming in the pool, Malta wouldn't care about a company in the crypto industry...
Money and capitalism matter...

[Gabali126]

We have seen some of the biggest crypto Exchanges, like Binance and OkEx moved to Malta and another bigger exchange Bittrex is also considering to open their office in Malta.

But why Malta?

One obvious reason is that the government announced in January that it was in the process of establishing a “Virtual Currency Act” and a “Digital Innovation Authority” and that both will provide a regulatory framework to allow crypto companies to operate.

Malta did similar with Gambling as well and it became a huge Gambling hub soon. Now, Malta wants to attract cryptocurrency businesses to its shores, and has already been successful in nabbing some of the biggest. The government had been promising to set up regulations for the industry and provide a better environment to them in future.

This is very good for the country as this decision by the government has continued to attract several crypto tourists to the small country.

[MrRiuss]

We have seen some of the biggest crypto Exchanges, like Binance and OkEx moved to Malta and another bigger exchange Bittrex is also considering to open their office in Malta.

But why Malta?

One obvious reason is that the government announced in January that it was in the process of establishing a “Virtual Currency Act” and a “Digital Innovation Authority” and that both will provide a regulatory framework to allow crypto companies to operate.

Malta did similar with Gambling as well and it became a huge Gambling hub soon. Now, Malta wants to attract cryptocurrency businesses to its shores, and has already been successful in nabbing some of the biggest. The government had been promising to set up regulations for the industry and provide a better environment to them in future.

malta is a "tax paradise". not only for cryptocurrencies, but for all of the financial products.

[jjohnathn]

We have seen some of the biggest crypto Exchanges, like Binance and OkEx moved to Malta and another bigger exchange Bittrex is also considering to open their office in Malta.

But why Malta?

One obvious reason is that the government announced in January that it was in the process of establishing a “Virtual Currency Act” and a “Digital Innovation Authority” and that both will provide a regulatory framework to allow crypto companies to operate.

Malta did similar with Gambling as well and it became a huge Gambling hub soon. Now, Malta wants to attract cryptocurrency businesses to its shores, and has already been successful in nabbing some of the biggest. The government had been promising to set up regulations for the industry and provide a better environment to them in future.

I think there government are supporting bitcoins and want to promote it. I wasn't aware about such thing i thought that all countries are against bitcoin. Anyways glad to hear there's still some countries which are supporting bitcoins.

[arnaudel98]

We have seen some of the biggest crypto Exchanges, like Binance and OkEx moved to Malta and another bigger exchange Bittrex is also considering to open their office in Malta.

But why Malta?

One obvious reason is that the government announced in January that it was in the process of establishing a “Virtual Currency Act” and a “Digital Innovation Authority” and that both will provide a regulatory framework to allow crypto companies to operate.

Malta did similar with Gambling as well and it became a huge Gambling hub soon. Now, Malta wants to attract cryptocurrency businesses to its shores, and has already been successful in nabbing some of the biggest. The government had been promising to set up regulations for the industry and provide a better environment to them in future.

I don't have any other ideas since i never heard about Malta involve with crypto currency. But it might possible there government are with crypto currencies.

[Dimon8]

Malta is a small state that is on an island. The main income of the state is the tourism industry and related products. The Government of Malta decided to take measures to increase the filling of the state treasury by raising funds from the settlement of the cryptography.

[bitbunnny]

It is not only Malta, but some countries decide to take advantage of cryptocurrency as Uzbekistan[1].
The link between these currencies and the dark activities has been reduced, so some countries are trying to make gains by enacting some laws to attract large companies.
So Malta will not be the only countries to do so. Other countries may offer better opportunities.

[1]  Uzbekistan opens the door to Cryptocurrency Exchanges, Offers Tax Benefits

Exactly, there are some other countries, I would also add Netherlands who is also country very friendly to cryptocurrencies.
But Malta has made step further and like with some other industries and activities used the very best for it's own favour. Government has recgonized huge potential of cryptocurrencies and they as a small and not important country on.a global scene have to take all opportunities they have to survive and grow as well as provide well being for their people.
So, cryptocurrencies are just one tool they use to achieve that.

[creeps]

Maybe because Malta is more cryptofriendly than any other countries although there are still some countries who accepts also cryptos but maybe investors really a big potential on that place. I'm following a project for months now and its MB8Coin which is also base from Malta, I think this can also be a good project. We will see more countries like this, and hopefully my country will become more crypto friendly.

[Olalomi]

Concentration of crypto exchanges in malta will create enabling environment for trading and businesses to thrive thus open up job opportunities while the government will generate income in form of taxes and more infrastructures will be put in place for rapid development of that country by those exchanges.

[NikNight]

It all looks like this, if the gambling business is developed in Malta, then let's send there crypto-currencies. As well as some of the states of USA are trying to promote crypto-currencies. Here, the number of players and the number of crypto-enthusiasts will be approximately the same. It upsets me. It is necessary not to send new technologies to the islands, but it needs to develop everywhere.

[ecnalubma]

Countries who embrace this technology will have a good headstart towards blockchain race, those who are rejecting will be left behind. Those countries that adopts saw potential and value of crypto, it plays an important role specially in developing countries will also boost their economy and will create additional jobs.