The development of the Financial Technology (Fintech) industry which resulted in digital currency, referred to nowadays as cryptocurrency, is allowed to be used in most European countries. Malta, which gained reputation as being in the forefront and a prime hub for financial services, has already published the first-ever regulatory framework for virtual currency, making Malta one of the countries that accept cryptocurrencies.
The Maltese islands, on 4th July, 2018, became the first world jurisdiction to provide the first blockchain regulatory framework as the Maltese Parliament approved three separate bills as laws – the Malta Digital Innovation Authority Act, the Innovative Technological Arrangement and Services Act, and the Virtual Financial Asset Act. Such a National Blockchain Strategy aims to materialise the opportunities of distributed ledger technology, being, to create electronic systems which reduces bureaucracy within the various government department and authorities.
Being a recognized financial centre for cryptocurrency and an attractive jurisdiction for setting up cryptocurrency companies, top exchange platforms have already confirmed their relocation and investment in Malta, naming Malta as the Blockchain Island.
In view of this fact and evolving development of this sector in Malta, here at Fairwinds Management Limited we can assist investors wanting to register and open a cryptocurrency company in Malta. Our team of experts is able to handle all paperwork with the Registry of Companies within the Malta Financial Services Authority (MFSA) to form your new company. Furthermore we are able to introduce you to local banks that are crypto-friendly for the opening of bank accounts, and also apply for VAT registration number and tax number.
If you are looking into setting up a Malta cryptocurrency company, send us your request and we’ll get back to you with a detailed quotation and KYC documents needed to kick start your new crypto business in Malta.