Beautiful Virgin Islands

Tuesday, Jun 03, 2025

Regulators: $70 Billion in Crypto Passed Through Malta Island

Regulators: $70 Billion in Crypto Passed Through Malta Island

The island nation in the Mediterranean Sea, called Malta, has been known to be friendly toward cryptocurrency solutions and blockchain technology for a long time. According to a regional report, government sources say more than $70 billion moved through the country over past years while regulations were loose. In addition, the Financial Action Task Force (FATF) criticized the island nation at a recent confidential meeting.

FATF Criticism Towards Malta

“Sources privy to [a] confidential FATF meeting,” said that the financial regulator is concerned about Malta, according to a regional report published by timesofmalta.com. FATF held a confidential meeting and it’s been said that “some €60 billion in cryptocurrency” (over $70 billion) had passed through the island country of Malta’s borders, according to the report.

The article’s sources are unknown but the FATF meeting attendees stressed that one of the biggest issues with Malta was that it allegedly “facilitated a large volume of cryptocurrency” and did so “without enough oversight.”

Organizations and companies that have offices located in Malta include crypto firms like Okex, Coinvest, Decentralised Ventures, Yovo, Ledger Projects, Stasis, Bitmalta, and the Blockchain Malta Association. Crypto solutions and blockchain tech is so popular in Malta the country is dubbed the “Blockchain Island.”

At the end of April, however, as regulations swept the Maltese nation, 70% of the crypto companies in the sector had not yet sought licensing. Meanwhile, 26 crypto companies applied but none of the firms were approved. Crypto regulations in Malta began surfacing in the country in the summer of 2018.

The timesofmalta.com report said that unnamed crypto industry sources have insisted that Malta is now heavily regulated. Moreover, they denied the FATF’s crypto transaction estimates that allegedly stem from the island country. A report authored by Michael Morell, an ex-deputy director at the Central Intelligence Agency (CIA), explained that crypto exchanges have accessible data at their fingertips.

Unsure How FATF Obtained Malta’s Transaction Data

Furthermore, in 2019, the Malta Financial Services Authority (MFSA) appointed the blockchain surveillance firm Ciphertrace to help regulators combat non-compliance. Ciphertrace’s job is to monitor “transactions that pass through local crypto exchanges and digital wallets.”

The timesofmalta.com study does not disclose how the FATF got its transaction estimates that ostensibly show billions of dollars in crypto flowing through Malta. The people familiar with the matter of the FATF meeting also did not give details on exactly when the funds passed through Malta, as far as exact time frames are concerned.

“Speaking of the threat of money laundering, it has long been established that cryptocurrencies such as Bitcoin, which utilise a publicly-accessible ledger of transactions, are a highly effective crime fighting and intelligence gathering tool,” Morell’s report added.

Source: Regulators: $70 Billion in Crypto Passed Through Malta Island – Fintechs.fi

Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
Dutch government falls as far-right leader Wilders quits coalition
Harvard Urges US to Unfreeze Funds for Public Health Research
Businessman Mauled by Lion at Luxury Namibian Lodge
Researchers Consider New Destinations Beyond the U.S.
53-Year-Old Doctor Claims Biological Age of 23
Trump Struggles to Secure Trade Deals With China and Europe
Russia to Return 6,000 Corpses Under Ukraine Prisoner Swap Deal
Microsoft Lays Off Hundreds More Amid Restructuring
Harvey Weinstein’s Publicist Embraces Notoriety
Macron and Meloni Seek Unity Despite Tensions
Trump Administration Accused of Obstructing Deportation Cases
Newark Mayor Sues Over Arrest at Immigration Facility
Center-Left Candidate Projected to Win South Korean Presidency
Trump’s Tariffs Predicted to Stall Global Economic Growth
South Korea’s President-Elect Expected to Take Softer Line on Trump and North Korea
Trump’s China Strategy Remains a Geopolitical Puzzle
Ukraine Executes Long-Range Drone Strikes on Russian Airbases
Conservative Karol Nawrocki wins Poland’s presidential election
Study Identifies Potential Radicalization Risk Among Over One Million Muslims in Germany
Good news: Annalena Baerbock Elected President of the UN General Assembly
Apple Appeals EU Law Over User Data Sharing Requirements
South Africa: "First Black Bank" Collapses after Being Looted by Owners
Poland will now withdraw from the EU migration pact after pro-Trump nationalist wins Election
"That's Disgusting, Don’t Say It Again": The Trump Joke That Made the President Boil
Trump Cancels NASA Nominee Over Democratic Donations
Paris Saint-Germain's Greatest Triumph Is Football’s Lowest Point
OnlyFans for Sale: From Lockdown Lifeline to Eight-Billion-Dollar Empire
Mayor’s Security Officer Implicated | Shocking New Details Emerge in NYC Kidnapping Case
Hegseth Warns of Potential Chinese Military Action Against Taiwan
OPEC+ Agrees to Increase Oil Output for Third Consecutive Month
Jamie Dimon Warns U.S. Bond Market Faces Pressure from Rising Debt
Turkey Detains Istanbul Officials Amid Anti-Corruption Crackdown
Taylor Swift Gains Ownership of Her First Six Albums
Bangkok Ranked World's Top City for Remote Work in 2025
Satirical Sketch Sparks Political Spouse Feud in South Korea
Indonesia Quarry Collapse Leaves Multiple Dead and Missing
South Korean Election Video Pulled Amid Misogyny Outcry
Asian Economies Shift Away from US Dollar Amid Trade Tensions
Netflix Investigates Allegations of On-Set Mistreatment in K-Drama Production
US Defence Chief Reaffirms Strong Ties with Singapore Amid Regional Tensions
Vietnam Faces Strategic Dilemma Over China's Mekong River Projects
Malaysia's First AI Preacher Sparks Debate on Islamic Principles
White House Press Secretary Criticizes Harvard Funding, Advocates for Vocational Training
France to Implement Nationwide Smoking Ban in Outdoor Spaces Frequented by Children
Meta and Anduril Collaborate on AI-Driven Military Augmented Reality Systems
Russia's Fossil Fuel Revenues Approach €900 Billion Since Ukraine Invasion
U.S. Justice Department Reduces American Bar Association's Role in Judicial Nominations
U.S. Department of Energy Unveils 'Doudna' Supercomputer to Advance AI Research
U.S. SEC Dismisses Lawsuit Against Binance Amid Regulatory Shift
Alcohol Industry Faces Increased Scrutiny Amid Health Concerns
×