Prime Minister Of Malta: Crypto-Currencies Are The Inevitable Future Of Money

While large countries are arguing and reflecting on the way to effectively control, manage or ban crypto-currencies, the tiny Mediterranean island of Malta is going to turn into a blockbuster-capital of the world.

In the issue of regulation and promotion of crypto currency, Malta is much ahead of most of its competitors.

According to the Prime Minister Joseph Muscat, crypto-currencies are the "inevitable future of money" and they will form the basis of the future world economy.

Officials of the state also understand that the advantages of crypto currency can be used right now.

Malta with its fair and clear rules of regulation has gradually turned into a very attractive place for many crypto-exchange markets and companies. The government of the country declares that it is going to "offer legal certainty in a so far unregulated space". Moreover, the island has a very attractive tax rate - only 5% for international companies.

Struggle for the championship:

It so happened that now Malta becomes a direct competitor to the main crypto-currency harbors - Japan, South Korea and Hong Kong - in each of which there are many large crypto-exchange exchanges.

The undisputed leader at the moment is Japan with its crypto currency-oriented regulation aimed at eliminating fraud and theft, as well as protecting consumers and stimulating the development of the industry. South Korea and Hong Kong are not so determined yet, and this plays into Malta's hands, giving it the opportunity to prove its leadership.

The competition from Europe is represented by Switzerland . This country, known for its low tax rates, plans to introduce regulation of the primary offers of tokens (ICO), and also created its own "Kryptodolin".

The announcement that one of the world's largest exchanges - Binance - is going to move to Malta, has worried the entire crypto-currency market. Similar plans were announced by the OKEX exchange, German blocking company Neufund and the Abyss-oriented gaming platform.

The founder of the crypto-currency Tron Justin Sun also officially stated that "seriously considering" the move to Malta.

GTG Advocates' Maltese partner Ian Gauci describes the situation as follows:

"We expect that Malta will attract many companies, this interest will be wide-ranging and will not be limited to crypto-currencies alone."

In early November, an international blockade summit is scheduled to be held on the island, which should attract additional attention to the members of the crypto-currency area to Malta.