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

Arkivji/ DOI: Jeremy Wonnacott

Arkivji/ DOI: Jeremy Wonnacott

A blockchain company which was relocating to Malta from Germany has fired most of its employees. The news was confirmed by local online news portal LovinMalta. Partit Nazzjonalista reacted to the news saying that the government lacks a serious long-term plan for the sector. In a reaction, the Government accused the Nationalist Opposition of “cheering over such news”.

Both the Nationalist Party and the Parliamentary Secretariat for Financial Services have released statements on Saturday accusing each other of the layoff. The company in question was recognised with Careers program of the Year during the Malta Blockchain Summit which was organised in Malta last year.

The PN accused the government of lacking long-term vision in attracting “quality” foreign investment. The PN further elaborated that it was only through drawing the interest of renowned companies that could provide their expertise and invest in Maltese workers, the government could through its vision of turning the country into a ‘blockchain island’. The Party warned against ‘amateurish’ behaviour and stressed on the need of carrying out proper due diligence when giving licenses.

The Parliamentary Secretariat for Financial Services claimed that the Opposition was behaving ‘negatively’ in an attempt to cover up its internal party problems. The Secretariat accused the PN of “hypocrisy” claiming that the Party never participated in the public consultations which were held on blockchain.

According to the Secretariat, the Malta Financial Services Authority (MFSA) was processing a number of applications which would see some companies obtaining their licenses later on this year.

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