Of 259 blockchain companies that applied, only 1 closed down – Muscat


Partit Laburista Leader Joseph Muscat told those present at a party activity in Żebbuġ, that “259 applications” have been submitted to the Malta Financial Services Authority for reviewing, MFSA, in accordance to the Virtual Financial Assets Act, however none have been yet approved by the MFSA according to the information the watchdog had given to Newsbook.com.mt.

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Muscat played down the firing of employees by DQR, saying it was just one company out of 259 companies that have submitted their applications.

READ: Blockchain company fires most of its employees; PL and PN trade blows

During his speech, Muscat made an analogy comparing the country’s economy to an old vehicle, and harping throughout the speech that Malta is at crossroads. He stressed on the need to get out of comfort zones and the need to become ambitious, saying that such initiatives required taking risks which may have positive or negative outcomes. Speaking indirectly about the layoff at DQR, Muscat said that it was only one company that “closed down”.

On Corinthia land deal

The Party leader defended the land deal, saying that when compared to the Smart City concession it was sold at a “higher value”. He then claimed that he suspected that the Partit Nazzjonalista pronounced itself against the deal with Corinthia because of internal party woes, borrowing from Edward Zammit Lewis speech saying that it was a question of “tribe fighting against tribe” referring to the internal PN situation.

Muscat claimed that the Labour-led government would ensure a level playing field and ensure that the quality of the touristic product is improved, so as to attract high net worth tourists.

According to Muscat’s vision for tourism, it is by attracting high net worth investors that the minimum wage in such sectors could be increased and that Maltese would look into a career within the sector. He argued that by having “quality projects”, one would have better wages, as long as they would be trained even for the most “humble” of jobs refraining from mentioning examples. He stressed that this was why the government was describing itself as “pro-business” and this was part of his vision for the tourism sector. Muscat also said that while he had the power to increase minimum wage with immediate effect, he could not do so without taking into consideration the employers’ needs and the adverse effect such a decision would have on employees on minimum wage.

Muscat, PL congratulate Michela Pace

Muscat kicked off his speech congratulating Michela Pace who was crowned winner of the first edition of X Factor Malta and is Malta’s hopeful for the Eurovision. The Party also released a statement on Sunday congratulating the winner. The PL said that like the rest of the country it will be uniting behind its Eurovision representative, set to compete in the annual show which will take place in Tel Aviv this year.

READ: X Factor: Michela will represent Malta in the Eurovision Song Contest