Blockchain technology – increased banking regulation
The introduction of blockchain technology has created a new industry and potential investments for individuals across the globe. Lack of regulations placed such companies related to Bitcoin and other cryptocurrencies in a grey area, creating hurdles for this stream of new crypto business. Malta’s step in creating a crypto regulating framework for such an industry has helped companies attain trust and transform the market into an attractive one for consumers.
The increased regulation has led to a decrease in risk appetite. Blockchain and cryptocurrency companies continue to face a problematic issue in finding appropriate banking solutions. The situation surrounding traditional banking has continued to harm cryptocurrency companies who now find it even harder to identify a banking solution willing and able to offer them the required bank services.