The Malta Blockchain Summit Gathers Over 5,000 Attendees Amidst The Rise In Crypto Interest From Institutional Investors – VFA Act Comes Into Play

All eyes have been on Malta for the past couple of days.

November 1st marked the start of The Malta Blockchain Summit which was a much-awaited event in the crypto space.

The island nation managed to establish itself as a crypto-friendly destination and more companies associated with the blockchain tech and cryptocurrencies have been moving there.

The Malta Blockchain Summit comes at a crucial time as this year is about to end, but not without a few successes in the cryptosphere.

Crypto asset providers are looking for a continued legitimization of the industry and its real-world applications.

The crypto world has also been enjoying a continually increasing interest coming from institutional investors.

Let’s take Fidelity for example. The fact that this WallStreet company opened a crypto branch brought more legitimacy to the crypto space and opened the door for more companies to do the same.

The world’s fourth, largest asset manager Fidelity with $7.2 trillion assets under management is supporting the legitimacy of cryptocurrencies.

Fidelity CEO Abigail Johnson said that the long-term strategy of the investment company is to make Bitcoin and cryptos more accessible to investors:

“Our goal is to make digitally-native assets, such as bitcoin, more accessible to investors.”

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The Malta Summit will provide innovative opportunities

Anyway, getting back to the Malta Summit, according to its official website, it promises to be an innovative opportunity for global influencers to debate various potential applications of blockchain across lots of industries including marketing, entertainment, government, and banking.

One significant speaker who is present in Malta is John McAfee among many others.

“We are coming into our power,” McAfee Tweeted, highlighting the massive importance of the Summit for crypto.

VFA comes into play

November 1 also marked the day that Malta’s Virtual Financial Assets Act (VFA) came into play.

This is highly important because the Act which is coordinated by the Malta Financial Services Authority (MFSA), will regulate the registration of white papers by issuers of virtual financial assets, VFA service providers, and VFA agents.

Eduard Watson Author

An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.

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