Malta cryptocurrency regulation is both easy to understand and quite fair to everyone involved. This beautiful little European island nation is looking to become the world’s new blockchain hub, and their state officials understand that to do that they must find a way to help these new companies operate legally within the country.
Cryptocurrencies have never faced any opposition here by regulators, and their prime minister has even made serious plans to advance the standing of the country in the space, hoping that cryptocurrencies will bring favorable economic prospects to his homeland.
They have been so favorable even that established players are looking to move there! Crypto exchange giant Binance has been welcomed by the prime minister with open arms. After some regulatory spats in Japan, they’ve decided to take a more free approach to this lovely island instead. Zhao, Binance’s CEO, says he’s impressed with how progressive they are with their policies. He’s not the only one that’s a fan either.
Thanks to their very open policies, they are rated on our site as one of the most crypto-friendly countries in the world. The real story behind this welcoming attitude is, of course, the economic bonuses. Binance alone plans to hire some 200 people for its new office, and that’s just for starters.
Is Bitcoin legal in Malta?
The legality of Bitcoin in Malta is good, and there have never been any restrictions placed on it. Citizens are free to buy, sell and swap cryptocurrencies as they see fit. It does not seem that they have declared BTC legal tender, but this could be due to complications with the EU. However, this and other coins and tokens are currently unregulated, and there are no restrictions placed on holding, owning or trading them.
While they do have some stipulations regarding amounts of cryptocurrency that is transferred, likely to loosely comply with anti-money laundering initiatives, these don’t seem to be strictly enforced. Citizens and even visitors will enjoy the benefit of using a large number of ATMs to buy and sell their currencies, and there are also likely many shops here which will also accept your coins thanks to the growing reputation within the crypto community of this fine nation.