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Government of Malta to test cryptocurrency in regulatory ‘Sandbox’

The government of Malta undertaking a trial design to impel how a cryptocurrency might affect its domestic economy.

According to the times of Malta’s report, the aspect being unveils is the intro of a cryptocurrency within a “controlled framework”. However, it allows regulators to test possible controls and legislation for the technology.

The work is describe as “sandbox test”, a third party advises a report that compiles by auditing giant PwC. Since, it is to boost the country’s credentials in the blockchain technology division.

Related Coverage: Blockchain advisory board as National strategy advances: Malta

Reportedly, a responsible from government drops to confer the significance of trail with the news sources. With the fact, it could play an immense role in notifying Malta’s evolving domestic policy on blockchain technology.

According to Maltese regulatory, the test would be led by governments internationally. Therefore,  to sought out the excesses to model the economic impact of blockchain technology.

For instance, in 2016 Netherlands central bank, attempt to induce from bitcoins early stages how the networks look alike in 2140. Moreover, the potential effects of cryptocurrencies on economics around the globe has been explored the past with fluctuating assumptions.

Read Next: Country’s first cryptocurrency ATM installed by Malta Entrepreneur

Image Source: Government of Malta

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Kerin

Kerin is active blogger and guest writer at Coinpedia. She loves writing new updates, price fluctuations and possible insights. Kerin frequently search, review and share her views among large audience via crypto media firms.

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