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The government of Malta can test the cryptocurrency in the normative "sandbox"

The government of Malta may soon begin a trial to determine how the currency can affect its domestic economy.

26.Sep.17 10:51 AM
By Daria Zaytseva


The government of Malta can test the cryptocurrency in the normative "sandbox"

According to a report of the Times of Malta, the sources said that the research concept was the introduction of a cryptocurrency in a "controlled structure" that would allow regulators to check possible control measures and legislation for this technology.

The Times described the work as a "sandbox test", which was recommended by a third-party report compiled by the audit giant PwC, itself is part of the push to boost the country's accounting records in the technological sector of the blockchain. Such testing would follow the creation of a national strategy, launched in April, which was publicly supported by the Prime Minister of the country.

The government spokesman reportedly refused to discuss the specifics of the trial with the news source. However, if so, it could play an important role in informing Malta's evolving domestic policies regarding blockchain technologies.

While new to the Maltese regulators, the test would be one of many conducted by governments at the international level, which often sought to go to extremes to model the economic impact of blockchain technologies.

For example, in 2016, the central bank of the Netherlands went so far as to try to extrapolate from the early stages of bitcoin what the network would look in 2140. In addition, the potential implications of the cryptocurrencies for the economy around the world have been studied in the past, with different conclusion.

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