Malta’s ‘blockchain island’ strategy falters as banks refuse to play ball

Malta’s ‘blockchain island’ strategy falters as banks refuse to play ball

Malta’s plan to become a"‘blockchain island" appears to have stalled, with few retail banks indicating a willingness to work with crypto firms. Malta’s Finance and Employment Minister, Clyde Caruana, has revealed that the nation’s plan to become a “blockchain island” is floundering due to the unwillingness of local banks to work with innovative firms.Speaking to local media outlet Lovin Malta, Caruana noted that few local businesses have been able to secure banking partners, asserting: “Traditional banks have written off blockchain at its early stages.”“The banks must be convinced that....


Related News

$71B in crypto has reportedly passed through ‘blockchain island’ Malta since ...

The Financial Action Task Force, a membership body of 37 jurisdictions and two regional organizations, has flagged Malta’s initial push to attract cryptocurrency business as “problematic.” Malta’s strategy to become a global enclave for digital assets appears to be working, though lax regulatory oversight has raised concerns over money laundering and other financial crime. Roughly $71 billion, or 60 billion euros, worth of cryptocurrencies have passed through Malta since the tiny Mediterranean state first adopted its “blockchain island” strategy in 2017, the Times of Malta reported Sunday.....

Tom Brady Bestows Bitcoin To Fan In Exchange For 600th Touchdown Football

U.S. football star Tom Brady has recently scored his 600th touchdown in the sport. A lucky fan had gotten the ball after Mike Evans had given it to him at the game. However, the fan did not get to keep the ball. Being Brady’s 600th touchdown, this ball carries significant value. The ball was valued […]

What Banks Should Be Doing With Blockchain in 2016

Banks didn’t plan for the blockchain. It just happened in front of them in 2015. But, they have been thinking a lot about its implications. 2015 was the year that banks started to wonder about their blockchain strategy. Banks that didn't have such a strategy were considered laggards. But despite its revolutionary prognosis, the blockchain doesn't signal the end of banking, because the banks aren’t going to use it to disrupt or obsolete themselves. Rather, they will guide it to live within the regulated constraints of their world. The good news is blockchain implementations help banks....

George Ball Says Crypto Is Effective Hedge Against Currency Debasement as US ...

The chairman of investment firm Sanders Morris Harris, George Ball, says cryptocurrencies are an effective hedge against currency debasement. In addition, he says that cryptocurrencies are attractive as a small part of portfolios. George Ball Advocates for Crypto as Hedge Against Currency Debasement George Ball talked about bitcoin and other cryptocurrencies in an interview with Yahoo Finance last week. He described two main reasons why cryptocurrencies are now ideal targets for investment by wealthy individuals and institutional investors. Ball is currently the chairman of investment firm....

Voyager Digital: FTX’s Offer Is A “Low Ball Bid,” Argues It Disrupts Bankrupt...

In response to FTX’s proposal to provide early liquidity to Voyager customers, the attorneys for insolvent cryptocurrency lender Voyager Digital called the proposal a “low-ball bid dressed up as a white knight rescue” that only benefited FTX. Voyager Lawyers Call FTX’s Offer A ” Low Ball Bid” In court documents filed late on Sunday, attorneys […]