Malta Financial Regulator Looks to Bolster Cryptocurrency Industry

Having earned the reputation of “Blockchain Island”, Malta is taking steps to preserve the industry by investing heavily in supervisory technology in order to protect the blockchain industry.

Such investments according to authorities are aimed at ensuring that the inherent risks associated with virtual currencies are kept at a minimal level in Malta.

There Is Work To Do

Having shown a friendly appeal to the blockchain industry and already seeing an influx of activities into the Island, the Malta Financial Services Authority (MFSA) believes that it has its work cut out already. After being heavily criticized over the years for failing to protect victims of the collapsed La Valette Property Funds, the institution appears unwilling to permit any loopholes this time around.

Christopher Buttigieg, head of the Malta Financial Services Authority’s securities and markets supervision unit noted the huge risks involved in environments with large flows of money. Therefore, the…