A business unit within Malta’s Chamber of Commerce has struck down allegations that the country failed to uphold proper regulatory oversight of cryptocurrency businesses in its early embrace of the industry in 2017 and 2018.
The Virtual Financial Assets Agents Business Unit of the Malta Chamber of Commerce responded to a Sunday report from the Times of Malta alleging that global financial regulators are concerned about money laundering and lax regulatory oversight of crypto businesses within the country. Specifically, sources close to a recent Financial Action Task Force meeting in Paris told the daily newspaper that regulators believe Malta’s fast-tracking of crypto businesses came at the expense of proper due diligence.
Continue Reading on Coin Telegraph
