Advertisement
AD

Main navigation

Error message

  • Warning: Undefined array key 1 in Drupal\cryptocompare\TwigExtension\RemoveSpace::getcard() (line 3111 of modules/custom/cryptocompare/src/TwigExtension/RemoveSpace.php).
    Drupal\cryptocompare\TwigExtension\RemoveSpace::getcard('70 percent of Malta-based cryptocurrency startups have failed to request a virtual financial asset (VFA) license, <a rel="nofollow" target="_blank" href="https://www.maltatoday.com.mt/news/national/101920/maltas_blockchain_flop_70_of_crypto_firms_have_given_up#.XqMpQWgzZPZ">according to Malta Today</a>.&nbsp;
        Advertisement
        
            
        
        
            
                    
                
                                                
    
            
            
                    
                
                                                
    
            
        
    
    
    
    
    None of the companies that did start the licensing process are yet to get the green-light from the Malta Financial Services Authority (MFSA). Until then, they are not allowed to provide any services in the country.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    
    <a rel="nofollow" target="_blank" href="#">card</a>
    
    The report also states that many companies that were close to the government hit the skids shortly after their launch. Case in point: blockchain platform Omnitude, which was supposed to enhance the country’s transportation, but ended up closing shop due to funding problems.
    
    Former Prime Minister Joseph Muscat famously wanted to turn Malta into “Blockchain Island,” which could be the next Dubai. However, the new administration doesn’t appear to be keen on his crypto dream.
    
    Earlier this year, the MFSA <a href="https://u.today/cz-binance-slammed-for-lack-of-transparency-as-absence-of-malta-license-news-spreads-fast">issued a warning</a> that crypto behemoth Binance wasn’t authorized to operate in Malta. The exchange never applied for a VFA license.&nbsp;
    ') (Line: 1133)
    Drupal\cryptocompare\TwigExtension\RemoveSpace->formatbody(Array) (Line: 54)
    __TwigTemplate_75845256f703f5319a38e035b4af7dd9->doDisplay(Array, Array) (Line: 394)
    Twig\Template->displayWithErrorHandling(Array, Array) (Line: 367)
    Twig\Template->display(Array) (Line: 379)
    Twig\Template->render(Array, Array) (Line: 40)
    Twig\TemplateWrapper->render(Array) (Line: 53)
    twig_render_template('themes/cryptod/templates/field--body.html.twig', Array) (Line: 372)
    Drupal\Core\Theme\ThemeManager->render('field', Array) (Line: 436)
    Drupal\Core\Render\Renderer->doRender(Array, ) (Line: 204)
    Drupal\Core\Render\Renderer->render(Array) (Line: 474)
    Drupal\Core\Template\TwigExtension->escapeFilter(Object, Array, 'html', NULL, 1) (Line: 1002)
    __TwigTemplate_625426e732c5f7a66fde6d628d98a6b2->doDisplay(Array, Array) (Line: 394)
    Twig\Template->displayWithErrorHandling(Array, Array) (Line: 367)
    Twig\Template->display(Array) (Line: 62)
    __TwigTemplate_e934e56c1e459c359b150360c7169113->doDisplay(Array, Array) (Line: 394)
    Twig\Template->displayWithErrorHandling(Array, Array) (Line: 367)
    Twig\Template->display(Array) (Line: 379)
    Twig\Template->render(Array, Array) (Line: 40)
    Twig\TemplateWrapper->render(Array) (Line: 53)
    twig_render_template('themes/cryptod/templates/node.html.twig', Array) (Line: 372)
    Drupal\Core\Theme\ThemeManager->render('node', Array) (Line: 436)
    Drupal\Core\Render\Renderer->doRender(Array, ) (Line: 204)
    Drupal\Core\Render\Renderer->render(Array, ) (Line: 238)
    Drupal\Core\Render\MainContent\HtmlRenderer->Drupal\Core\Render\MainContent\{closure}() (Line: 583)
    Drupal\Core\Render\Renderer->executeInRenderContext(Object, Object) (Line: 239)
    Drupal\Core\Render\MainContent\HtmlRenderer->prepare(Array, Object, Object) (Line: 128)
    Drupal\Core\Render\MainContent\HtmlRenderer->renderResponse(Array, Object, Object) (Line: 90)
    Drupal\Core\EventSubscriber\MainContentViewSubscriber->onViewRenderArray(Object, 'kernel.view', Object)
    call_user_func(Array, Object, 'kernel.view', Object) (Line: 111)
    Drupal\Component\EventDispatcher\ContainerAwareEventDispatcher->dispatch(Object, 'kernel.view') (Line: 187)
    Symfony\Component\HttpKernel\HttpKernel->handleRaw(Object, 1) (Line: 76)
    Symfony\Component\HttpKernel\HttpKernel->handle(Object, 1, 1) (Line: 58)
    Drupal\Core\StackMiddleware\Session->handle(Object, 1, 1) (Line: 48)
    Drupal\Core\StackMiddleware\KernelPreHandle->handle(Object, 1, 1) (Line: 191)
    Drupal\page_cache\StackMiddleware\PageCache->fetch(Object, 1, 1) (Line: 128)
    Drupal\page_cache\StackMiddleware\PageCache->lookup(Object, 1, 1) (Line: 82)
    Drupal\page_cache\StackMiddleware\PageCache->handle(Object, 1, 1) (Line: 48)
    Drupal\Core\StackMiddleware\ReverseProxyMiddleware->handle(Object, 1, 1) (Line: 51)
    Drupal\Core\StackMiddleware\NegotiationMiddleware->handle(Object, 1, 1) (Line: 51)
    Drupal\Core\StackMiddleware\StackedHttpKernel->handle(Object, 1, 1) (Line: 704)
    Drupal\Core\DrupalKernel->handle(Object) (Line: 18)
    
  • Warning: Undefined array key 1 in Drupal\cryptocompare\TwigExtension\RemoveSpace::getcard() (line 3114 of modules/custom/cryptocompare/src/TwigExtension/RemoveSpace.php).
    Drupal\cryptocompare\TwigExtension\RemoveSpace::getcard('70 percent of Malta-based cryptocurrency startups have failed to request a virtual financial asset (VFA) license, <a rel="nofollow" target="_blank" href="https://www.maltatoday.com.mt/news/national/101920/maltas_blockchain_flop_70_of_crypto_firms_have_given_up#.XqMpQWgzZPZ">according to Malta Today</a>.&nbsp;
        Advertisement
        
            
        
        
            
                    
                
                                                
    
            
            
                    
                
                                                
    
            
        
    
    
    
    
    None of the companies that did start the licensing process are yet to get the green-light from the Malta Financial Services Authority (MFSA). Until then, they are not allowed to provide any services in the country.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    
    <a rel="nofollow" target="_blank" href="#">card</a>
    
    The report also states that many companies that were close to the government hit the skids shortly after their launch. Case in point: blockchain platform Omnitude, which was supposed to enhance the country’s transportation, but ended up closing shop due to funding problems.
    
    Former Prime Minister Joseph Muscat famously wanted to turn Malta into “Blockchain Island,” which could be the next Dubai. However, the new administration doesn’t appear to be keen on his crypto dream.
    
    Earlier this year, the MFSA <a href="https://u.today/cz-binance-slammed-for-lack-of-transparency-as-absence-of-malta-license-news-spreads-fast">issued a warning</a> that crypto behemoth Binance wasn’t authorized to operate in Malta. The exchange never applied for a VFA license.&nbsp;
    ') (Line: 1133)
    Drupal\cryptocompare\TwigExtension\RemoveSpace->formatbody(Array) (Line: 54)
    __TwigTemplate_75845256f703f5319a38e035b4af7dd9->doDisplay(Array, Array) (Line: 394)
    Twig\Template->displayWithErrorHandling(Array, Array) (Line: 367)
    Twig\Template->display(Array) (Line: 379)
    Twig\Template->render(Array, Array) (Line: 40)
    Twig\TemplateWrapper->render(Array) (Line: 53)
    twig_render_template('themes/cryptod/templates/field--body.html.twig', Array) (Line: 372)
    Drupal\Core\Theme\ThemeManager->render('field', Array) (Line: 436)
    Drupal\Core\Render\Renderer->doRender(Array, ) (Line: 204)
    Drupal\Core\Render\Renderer->render(Array) (Line: 474)
    Drupal\Core\Template\TwigExtension->escapeFilter(Object, Array, 'html', NULL, 1) (Line: 1002)
    __TwigTemplate_625426e732c5f7a66fde6d628d98a6b2->doDisplay(Array, Array) (Line: 394)
    Twig\Template->displayWithErrorHandling(Array, Array) (Line: 367)
    Twig\Template->display(Array) (Line: 62)
    __TwigTemplate_e934e56c1e459c359b150360c7169113->doDisplay(Array, Array) (Line: 394)
    Twig\Template->displayWithErrorHandling(Array, Array) (Line: 367)
    Twig\Template->display(Array) (Line: 379)
    Twig\Template->render(Array, Array) (Line: 40)
    Twig\TemplateWrapper->render(Array) (Line: 53)
    twig_render_template('themes/cryptod/templates/node.html.twig', Array) (Line: 372)
    Drupal\Core\Theme\ThemeManager->render('node', Array) (Line: 436)
    Drupal\Core\Render\Renderer->doRender(Array, ) (Line: 204)
    Drupal\Core\Render\Renderer->render(Array, ) (Line: 238)
    Drupal\Core\Render\MainContent\HtmlRenderer->Drupal\Core\Render\MainContent\{closure}() (Line: 583)
    Drupal\Core\Render\Renderer->executeInRenderContext(Object, Object) (Line: 239)
    Drupal\Core\Render\MainContent\HtmlRenderer->prepare(Array, Object, Object) (Line: 128)
    Drupal\Core\Render\MainContent\HtmlRenderer->renderResponse(Array, Object, Object) (Line: 90)
    Drupal\Core\EventSubscriber\MainContentViewSubscriber->onViewRenderArray(Object, 'kernel.view', Object)
    call_user_func(Array, Object, 'kernel.view', Object) (Line: 111)
    Drupal\Component\EventDispatcher\ContainerAwareEventDispatcher->dispatch(Object, 'kernel.view') (Line: 187)
    Symfony\Component\HttpKernel\HttpKernel->handleRaw(Object, 1) (Line: 76)
    Symfony\Component\HttpKernel\HttpKernel->handle(Object, 1, 1) (Line: 58)
    Drupal\Core\StackMiddleware\Session->handle(Object, 1, 1) (Line: 48)
    Drupal\Core\StackMiddleware\KernelPreHandle->handle(Object, 1, 1) (Line: 191)
    Drupal\page_cache\StackMiddleware\PageCache->fetch(Object, 1, 1) (Line: 128)
    Drupal\page_cache\StackMiddleware\PageCache->lookup(Object, 1, 1) (Line: 82)
    Drupal\page_cache\StackMiddleware\PageCache->handle(Object, 1, 1) (Line: 48)
    Drupal\Core\StackMiddleware\ReverseProxyMiddleware->handle(Object, 1, 1) (Line: 51)
    Drupal\Core\StackMiddleware\NegotiationMiddleware->handle(Object, 1, 1) (Line: 51)
    Drupal\Core\StackMiddleware\StackedHttpKernel->handle(Object, 1, 1) (Line: 704)
    Drupal\Core\DrupalKernel->handle(Object) (Line: 18)
    

70 Percent of Malta's Crypto Startups Go Belly-Up

Advertisement
Fri, 24/04/2020 - 18:46
70 Percent of Malta's Crypto Startups Go Belly-Up
Cover image via stock.adobe.com
Read U.TODAY on
Google News

70 percent of Malta-based cryptocurrency startups have failed to request a virtual financial asset (VFA) license, according to Malta Today

Advertisement

None of the companies that did start the licensing process are yet to get the green-light from the Malta Financial Services Authority (MFSA). Until then, they are not allowed to provide any services in the country.       

card

The report also states that many companies that were close to the government hit the skids shortly after their launch. Case in point: blockchain platform Omnitude, which was supposed to enhance the country’s transportation, but ended up closing shop due to funding problems.

Former Prime Minister Joseph Muscat famously wanted to turn Malta into “Blockchain Island,” which could be the next Dubai. However, the new administration doesn’t appear to be keen on his crypto dream.

Earlier this year, the MFSA issued a warning that crypto behemoth Binance wasn’t authorized to operate in Malta. The exchange never applied for a VFA license. 

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement

Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles

Advertisement
AD