This is not just a political related issue but more about money IMO. There is no such related issue before and I think crypto projects are welcome in Malta and quite it looks different by now. This regulatory board may have to chase something for crypto owners and giving no option for them to follow the rules or have money under the table to play. Maybe I was wrong but in the current situation, I think they are looking it to happen since knowing that crypto is a growing market and these people would like to get some share also.
What I think here is the government is trying to buy careful about making haste to accept in totality with bitcoin. They feel the right to protect the citizen and this is why it looks like it is difficult to convince the government. Before we have a genuine legal backing from government, it will take more time.