Malta has become home to many cryptocurrency and blockchain companies that have difficulties in other jurisdictions. However, there are also problems in the island state: banks are reluctant to open accounts for representatives of crypto-business. In any case, as long as they do not get a license MFSA. This process is long, it takes about 6 months. As a result, cryptocurrency and blockchain companies cannot operate.
Recall, many companies from cryptoindustry, including such major exchanges as Binance, Bitbay, Okex, Zebpay and others, moved their business to Malta. However, in reality, their rainbow plans are not so quickly realized.
According to Jan Gauci, partner of the law firm GTG Advocates, the scenario for the development of a cryptocurrency business in Malta is optimistic:
“These organizations, like any other, need bank accounts to manage their operations. Some offices have already managed to open accounts, although their number is minimal. But I am optimistic. I believe that the regulatory regime in our state is loyal. And the banks will become more friendly to the representatives of the new industry. ”
