Crypto gets mentioned as “future of money” in U.N. Speech. The platforms and list of countries to accept the cryptocurrencies keep growing as Nvest weekly had previously reported.
But there is even bigger news this time for crypto enthusiasts. Crypto was as a key to security and advancement in technology. The Prime Minister of Malta, Joseph Muscat, in a platform given for his speech went on to praise the technology and even mentioned that crypto had a very significant role in the future, which will be purely based on digital technologies.
Muscat who was addressing the 73rd session of the General Assembly of the U.N. on September 27, revealed that Malta is planning to create a huge platform for crypto and making Malta a “ Blockchain Island” and that his country would be the first in the world to regularize the technology which is not well-known and accepted legally.
This comes after Malta has processed three bills regarding Blockchain, Cryptocurrency and Distributed Ledger Technology(DLT) in June this year.
Needless to say, there are significant changes in Malta’s stock exchange. This is because many crypto-based firms want to set their business entities on the island.
Malta’s Prime Minister was very optimistic about crypto during his speech. He stated that crypto was the future money. Also, it has a characteristic of separating good businesses from the bad ones, a very transparent feature.
This has also led other jurisdictions to take a relook on the technology they thought would be not important in the future. They are now thinking to launch the technology even in their jurisdictions.
Bermuda has also offered companies to set up a new legislation that would allow cryptocurrency based firms for Initial Coin Offerings. Also, the EU has also taken measures to not lose on cryptocurrency firms. This seems to be inevitable in the near future for digital transformation.