Difficult to open bank account in Malta, block chain

In Malta, block chain companies are having difficulty opening bank accounts. A local media survey of law firms and financial affiliates showed that banks are refusing to open accounts with block-chain-related companies and are trying to avoid risk. Digital currencies and block chains do not always have a close relationship, but the bank says it identifies them.

Silvio Brie, a local financial authority, says it is necessary to clearly distinguish between a block-chain enterprise and a cryptographic enterprise in opening an account for a block-chain-related enterprise. In order to help the industry understand, we are carrying out activities targeting financial institutions. He also explained that bank cryptographic operators are hoping to obtain a license from MFSA, a financial services company in Malta, before the bank can open an account, but that is inevitable. For more information, please click here .