According to the Malta Times, Malta's Finance Minister supports the decision of a government-operated charity to refuse a multimillion-dollar cryptocurrency donation from the Binance Charity Foundation. He pointed out that despite the significant increase in the value of the funds, the refusal to accept it was still the right decision.
Finance Minister Clyde Caruana stated on Tuesday that he supports the Malta Community Charity Fund's decision to reject a donation of 30,644 BNB, which was worth about $200,000 in 2018 but has now appreciated to approximately $33 million.
"You either donate sincerely to the charity or you don't donate at all," he told the Malta Times. "Don't beat around the bush on this issue."
His remarks came after reports that the Malta Community Charity Fund rejected the donation from the Binance Charity Foundation due to concerns about the reputation of the funding source. On the other hand, Binance refused to complete the donation unless the necessary patient information was provided to ensure the funds were delivered directly.
Malta's President Spiteri Debono referred to Binance's donation as a "false donation" earlier this month in an interview with the Malta Times. She questioned whether the Binance Charity Foundation was acting sincerely and pointed out that the company has a "bad reputation."
When discussing the hypothetical acceptance of the donation, Debono emphasized, "It is also unfair to other well-meaning donors who comply with the law."
In 2018, Binance and its users donated BNB to the Malta Community Charity Fund to help late-stage cancer patients. Since 2021, it has been reported that Binance has been waiting for the charity to verify patient information, including their medical bills and cryptocurrency wallet addresses. Binance considers direct transfers to patients a non-negotiable condition.
The Malta Community Charity Fund has refused to share the information required by Binance. In a 2021 announcement, Binance stated that it was discussing possible solutions with the charity, but no resolution has been found to date:
This dispute has led to a split in Malta's political arena. In mid-October, Prime Minister Robert Abela urged the Malta Community Charity Fund to reconsider its decision to reject the BNB donation. At a press conference, he expressed concern that the charity was being too strict and that the funds could have been better utilized.
"It would be a shame to waste such a large sum of money," Abela said. "If there is an opportunity to turn this around, I urge both parties to reach a consensus."
This issue seems to have become part of the country's partisan politics. Other Maltese Members of Parliament, including Edward Zammit Lewis and Rosianne Cutajar, as well as opposition leader Alex Borg, have reportedly expressed similar views to Abela.
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Original article: “Binance's $33 million charity donation becomes Malta's political minefield”
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