Are crypto exchanges legal in Malta?

The question surrounding the legality of crypto exchanges in Malta has been a topic of discussion in recent years. Given Malta's reputation as a blockchain hub, it's natural to assume that crypto exchanges operating there are fully compliant with local laws. However, recent clarifications by Maltese authorities have cast doubt on this assumption. Specifically, Malta's Junior Minister for Financial Services and Digital Economy, Bartolo Clayton, has stated that leading crypto exchange Binance has never been licensed in Malta. This revelation begs the question: are crypto exchanges legal in Malta, or do they operate in a gray area? The lack of official licensing for major exchanges like Binance suggests a potential gap in Malta's regulatory framework for cryptocurrencies. While the island nation has positioned itself as a hub for blockchain technology, it seems the legal status of crypto exchanges remains ambiguous. This ambiguity could pose risks for investors and traders using Maltese-based exchanges, as they may not be fully protected under local laws. In summary, while Malta has established itself as a blockchain leader, the legal status of crypto exchanges within its jurisdiction remains unclear. Further clarification from Maltese authorities would be welcome to provide investors and traders with a clearer understanding of the regulatory landscape.