Issue link: https://maltatoday.uberflip.com/i/1169316
19.09.19 5 A Malta-based crypto-currency brokerage founder has been nominated for four local entrepreneurship awards. 24-year-old entrepreneur Adrian Kreter, founder of Instacoins, is shaking up the global FinTech industry through a secure and user-friendly platform that em- powers clients with Bitcoin trading options. "Instacoins was created with the aim of becoming a universal fiat-to-crypto-to-fiat gateway. We've already made a lot of progress on the fiat-crypto side, now we're tackling the other side of the coin. Along with our projects for the upcoming year, we will be launch- ing our crypto-Mastercard — a great feature for trav- ellers and a further sign of the beneficial applications of crypto," Kreter said. He has been nominated for Best Start Up Entrepre- neur of the Year, Best Innovation Entrepreneur of the Year, Best Emerging Entrepreneur of the Year and Best FinTech Entrepreneur of the Year for his project In- stacoins. "Malta is a great place for start-ups and I have never been scared of taking calculated risks. Great opportu- nities lie in niches and areas where others are scared to take the risk, and I was one of the first to think and develop a business on the Blockchain Island. Back then, it seemed like a no-brainer to me," Kreter said. Instacoins was set-up a year ago with the aim of be- coming a market leader as a crypto-to-fiat brokerage. In July, it became an approved money transmitter business under US Financial Crimes Enforcement Network (FinCEN) regulations, and is currently seek- ing to be one of Malta's first service-providers to be regulated under the Virtual Financial Assets (VFA) act. Malta's Best Entrepreneur of the Year Awards are be- ing organised by MBR Publications Ltd. to celebrate local entrepreneurs and thought leaders. e awards ceremony will be held at Smart City this Friday. Instacoins founder nominated for four local entrepreneurship awards Malta-based crypto-currency brokerage founder Adrian Kreter PA studying possibility of offshore dumping of construction waste e Planning Authority is currently studying the possibility of construction waste dumping in the sea off Tigné Point, Joseph Muscat tells developers DUMPING construction waste in the sea could be a medium-term plan to solve the crisis but it is not govern- ment's preferred option, Joseph Mus- cat told developers. e Prime Minister was referring to an offshore location, which has long been used as a dumping ground for construction waste coming from spe- cific projects. Muscat was speaking at a meeting with members of the Malta Developers Association at Auberge de Castille on Wednesday. "e PA is still studying this possi- bility because we need to see the ca- pacity of this area, we need to discuss how to regularise it so it wouldn't be a free-for-all. is isn't the govern- ment's preferred choice because what we could be potentially dumping there is a resource, the equivalent of money," Muscat said. He explained how spoilt land under the sea off Tigné Point was an age-old dumping ground since the time of Brit- ish rule in Malta. e area had in the recent past been used to dump con- struction waste coming from the MIDI project in Tigné. But Muscat's long-term plan to solve the construction waste crisis is land reclamation. Muscat said Baħar iċ- Ċagħaq was the ideal spot for this to happen but the site posed environmen- tal problems. "Whoever thinks that we are going to build an island and occupy it with sky- scrapers is wrong. We have to remem- ber that places like Marsa, Msida and the Freeport are all products of land reclamation. e most ideal place for land reclamation right now would be Baħar iċ-Ċagħaq but unique flora and fauna there necessitate detailed stud- ies," Muscat said. Government could get heavy-handed He told MDA's president Sandro Chetcuti that the government was looking at different solutions with dili- gence and that a more short-term plan would include a more heavy-handed approach by the government to make sure that owners of quarries are not ex- cessively charging for the dumping of construction waste despite incentives. "Auto-regulation sustained itself from three to six months in this area but it wasn't a smooth affair. If the private sector doesn't regularise itself sustainably, the government will take all the legal action necessary," Muscat warned. e rent law reform was also very briefly discussed, with Muscat de- scribing the rent sector as a "jungle" that badly needed regularisation to get landlords in line and to protect ten- ants. "I don't think you'll be happy with our final decision on this issue," Muscat said vaguely. "If you're happy with the decisions, it means we won't be, but I enjoy speaking with the MDA because we know where we stand with you." e MDA submitted its proposals to the government for the upcoming Budget. It urged the government to renew incentives like the first-time buyers' scheme and the second-time buyers scheme that helped boost the property sector. e MDA also urged the government to introduce new sanctions for devel- opers and draughtsmen who do not deliver the final product when enthusi- astic couples buy plots of land. "We had a tough summer. Incidents happened which slowed down the in- dustry. We understand that a mora- torium had to happen," Chetcuti said, referring to the government's order halting all excavation and demoli- tion work after incidents in Pietá and Mellieħa, which saw families lose their homes adjacent to construction sites. "Today the MDA has become the portavoce for 42,500 people who have worked directly or indirectly with this NGO. e progress that we saw in the last five years was unprecedented and the wealth being distributed is enor- mous but we want certainty that this will continue," Chetcuti said. Face-off: Prime Minister Joseph Muscat (right) meeting MDA's Sandro Chetcuti