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Malta Topping Gibraltar as Crypto Haven With Brexit Approaching

  • ‘Uncertainty’ counts against Gibraltar: startup exchange LXDX
  • Crypto conference takes place in Maltese town of St. Julian’s
The domed roof of St. Philip's Church stands above waterfront hotels and residential property in Senglea, Malta.

The domed roof of St. Philip's Church stands above waterfront hotels and residential property in Senglea, Malta.

Photographer: Jasper Juinen/Bloomberg

In the battle among Western Europe’s crypto-haven wannabees to win fresh investment, Gibraltar looks to be losing out to Malta due to its uncertain relationship with the European Union.

Some investors at the Delta Summit conference in Malta this week said they chose the island nation as a foothold in the region thanks to its direct access to the single market. Traditional havens Gibraltar and Switzerland were commonly rejected as options because they lack the same advantage. The regulatory future of Gibraltar, a British enclave on the tip of the Iberian peninsula, was thrown into question by the U.K.’s decision to leave the EU.