The ‘Blockchain Island’ Of Malta Registered A Surplus Of €182 Million For 2017

The blockchain island of Malta has been featured on many occasion on our DC Forecasts crypto news site. This time, we are featuring the potential of the postage stamp-like nation nestled in the Mediterranean again – mostly because of its attractive climate for crypto/blockchain businesses, British expats and other things.

As of recently, Malta has become famous for more than its rich heritage. It was also a welcoming home for the iGaming sector which is worth approx. $1.4 billion (12% of the country’s GDP). On top of this, the European island of Malta was able to register a surplus of €182 million for 2017 which is its second year in a row with a plus like this.

The country is being talked about in blockchain regulatory circles as well, mostly because of its progressive stance on cryptocurrency, even being rebranded as “the Blockchain Island”. The prime minister of Malta, Joseph Muscat, recently gave a compelling speech to the United Nations about how countries should work together to solve the world’s problems.

Still, Malta is commonly on the radar mostly because of the sticky issues coming with cryptocurrencies – with money laundering as the biggest among them. On the surface, however, it is definitely a country and an island that is a pioneer in the cryptocurrency regulation space – especially after passing three new crypto bills this summer and becoming the first and only country to regulate cryptocurrencies in such way.

This has helped Malta attract even more crypto businesses and establish a regulatory framework for cryptocurrencies, blockchain and DLT in general.

To sum things up, Malta is definitely living up to the hype of crypto, blockchain and fintech – being one of the several places on Earth which crypto and blockchain enthusiasts can call a home.