An initiative to support the Association for Abandoned Animals (AAA), a non-governmental organisation (NGO) based in Malta has been made by OKEx along with Moira Delia, a actress, and animal activist. The Head of Operations of OKEx, Andy Cheung explained, “We have a great passion for animals and we believe they are a vital part of society that human beings rely heavily on, mentally and physically.”
The former CEO of Deutsche Bank, Kenan Altunis has been appointed as the new CEO for the blockchain-friendly financial institution based in Malta, Founders Bank. Altunis undeniably is well experienced in the traditional financial industry who is also an avid investor in the tech industry and currently a member of the Board of Directors of Sense Networks, Inc. The bank has been negotiating with the Maltese financial regulators in a bid to obtain a banking license that would enable it to launch operations in Europe.
The Malta Financial Services Authority’s (MFSA) new guidance note intends to warn the public about cryptocurrency investments and related risks, and educate people on how to identify and avoid scams and fraudulent schemes. The guidance outlines the most common types of digital currency-associated scams, which include fake initial coin offerings (ICOs), crowdfunding ventures promising higher gains which are availed of once the coin becomes active, and fake exchange platforms and fake e-wallet apps.
The Malta AI & Blockchain Summit (AIBC) will take place at the Hilton in St Julian’s, Malta during May 22-25. Its Founder Eman Pulis explains: “We are moving beyond Blockchain by discussing AI, Quantum Tech, Big Data, and IoT this year. We are also hosting a number of networking dinners across the world. I strongly believe that business is not made between companies, it is made between people.”
The Malta Financial Services Authority (MFSA) has given license to 14 crypto assets agents and will now be assisting these to adopt business to the new Virtual Financial Assets Act (VFA). Silvio Schembri, Parliamentary Secretary for Financial Services told that the banks were waiting for them to obtain approval before offering them services.
A blockchain security firm, CipherTrace, has been appointed by the Malta Financial Services Authority (MFSA) in monitoring the cryptocurrency businesses operated in the country. The CEO of CipherTrace has confirmed their responsibility for overseeing the regulatory process and audit risk management of virtual asset businesses licensed in Malta and making sure firms operate within the regulations.
Several cryptocurrency and blockchain companies weren’t allowed to open a account in malta banks despite government’s support for the industry. Silvio Schembri, the parliamentary secretary for financial services in Malta said “The general understanding is that when it comes to crypto operators, banks are waiting for operators to obtain an MFSA licence before opening their doors which is understandable.”
The Malta Digital Exchange (MDX) is relocating their operations to the Malta Stock Exchange (MSE) and currently in a process of obtaining crypto-related security trading. The founder of MDX, Rick Klink commented, “The Maltese Stock Exchange means that we are now physically positioned to be at the heart of the next wave of institutional financial innovation.”
Cryptocurrency companies operating in Malta is facing difficulties in an opening bank account. The Parliamentary Secretary for Financial Services, Silvio Schembri then explained to media, “The general understanding is that when it comes to crypto operators, banks are waiting for operators to obtain an MFSA license before opening their doors – which is understandable.”
The ABCC digital asset exchange affirmed to establish its office in Malta. The AlphaBit CryptoCurrency Exchange is reportedly following the steps adopted by Binance and OKex which opened offices on the island. The CEO of ABCC, Calvin Cheng mentioned, “We are delighted to announce the opening of our first expansion into Europe and our partnership with Delta Summit.”