Malta’s Prime Minister tells UN crypto is the ‘Future of Money’

Malta’s Prime Minister tells UN crypto is the ‘Future of Money’ as seen in this video.

“I passionately believe technology revolutionizes and improves systems. This is why in Malta, we have launched ourselves as the blockchain island. By being the first jurisdiction worldwide to regulate this new technology that previously existed in a legal vacuum. Blockchain makes cryptocurrencies inevitable future of money. More transparent it helps filter good business from bad business.” – Joseph Muscat, Prime Minister of Malta

In addition to this speech, it publicized by the Malta Chamber of Commerce in March that Muscat believes cryptocurrencies are the “inevitable future of Money.” He first stated this when Binance announced their move to Malta.

As far as the scale of crypto operations in Malta, it’s huge. If you take a look at Binance alone, they stated they will eventually be hiring up to 200 employees to assist with the Malta expansion. Furthermore, Binance isn’t the only exchange that moved to Malta. OKEx recently relocated their Hong Kong headquarters to the island. By trading volume, OKEx and Binance are two of the largest crypto exchanges globally.

Muscat’s speech to the UN general assembly serves to further cement Malta’s position as one of the most crypto friendly nations.