Malta Determined To Become the 'Blockchain Island': Regulations, Adoption, Binance Headquarters

Malta has made it obvious that it wants to become the "Blockchain island" and it seems determined to achieve its goal.

A notable confirmation that Malta is moving in the right direction regarding Distributed Ledger Technology regulation was the recent announcement by Binance.

The largest cryptocurrency exchange in the world by volume chose Malta for their new headquarters after the warnings received from Japan, China and Hong Kong.

Binance CEO Changpeng Zhao, known as "CZ", welcomed other projects to Malta such as Tron:.Justin knows where the party is.

Malta has warmly welcomed Binance, which hopes to start soon partnerships with local Maltese banks to enable fiat-to-cryptocurrency deposits and withdrawals within a few months.

It is therefore unsurprising that one of the goals of Binance in Malta would be to develop its own decentralized exchange given their awareness of all the upcoming innovations and potential competitors.

"Usually operators opening in Malta would look at the whole ecosystem and assess the country's potential from that angle. On the DLT front, Malta builds on the excellent reputation and track record in gaming, maritime and financial services. Hence, in my view, the value is already there. This value is further augmented by the country's predisposition to DLT and innovation and the recent announcements on the intended legislative framework in this sector. I believe this was a crucial aspect in attracting Binance and in all likelihood other outfits on DLT and in the crypto sphere might share Binance's view and likewise come to Malta."

Ledger projects based in Malta have created LP 01, the first DLT application in Malta consisting of a property transfer management system to facilitate notarial work.

The local press is also discussing DLT issues frequently as can be seen in some recent articles from Times of Malta, Lovin Malta or Malta Independent.

Malta, with the proposed legislation and Binance's announcement to move its headquarters there, is quickly positioning itself firmly to truly become the "Blockchain island".