Blockchain Goes the World – Developments in Malta

The Crypto World is Looking to Malta

A Small Nation is Lighting the Way

If there is a country in the world setting the parameters for acceptance towards cryptocurrencies and blockchain technology, it is the Republic of Malta. Explicitly, this nation of islands in the Southern Mediterranean Sea is paving the way in developing standards as other countries are holding back. Just this Tuesday, the Cabinet of Malta approved three bills related to cryptocurrency and blockchain technology. One bill in particular, the Virtual Financial Assets Bill, provides a regulatory framework for cryptocurrencies and initial coin offerings.

The nation’s Parliamentary Secretary for Financial Services, Digital Economy and Innovation, Silvio Schembri, spoke in support of cryptocurrencies. “As a government, we think that by regulating this market, it will ensure that the three main principles of financial regulation are adhered to. It will be a market that protects the investor and provides market integrity and financial soundness.”

Friendly Jurisdiction for Cryptocurrencies

As of recent, numerous exchanges have legally relocated to the island nation. Further, it is known to boast one of the world’s friendliest jurisdictions for an industry that is increasingly under the watchful eye of regulators. The most prominent representative is Binance. The exchange announced in March that it is moving to Malta after regulators in Hong Kong cracked down on virtual money.

Malta is popular with exchanges. National regulation includes a broad framework on how brokerages, exchanges, asset managers and traders operate. Correspondingly, the nation is setting a precedent in legal certainty. All in all, along with friendly tax rates this makes it a very attractive option for the market.

For this reason, the PURA Team was among the first to recognize the potential of Malta. The nation considers cryptocurrencies the base of future economies and has taken a leading role setting industry standards. Given these points, the team elected Malta as home base of PURA in 2017.

PURA for the Common Good

PURA is a cryptocurrency to provide you and society as a whole with a foundation to practice decentralized social responsibility and contribution. To emphasize, PURA is for putting decision-making power on how to allot funds for common good back into the hands of people. The PURA community wants to make a difference. In detail, PURA wants to establish an environment that pioneers a new method of societal organization. This way, you can help to work towards the common good.

In line with this, thank you for being part of the PURA Community and for all your support! Please read our Whitepaperfor more information.

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