Binance is Moving to Malta
Binance is the world’s largest cryptocurrency exchange by volume.
I last wrote about Binance in mid-March in the wake of an attempted hack. It was able to thwart the hack and soon after announced the launch of its decentralized exchange model.
Binance is back in the news again and this time it’s moving to Malta.
In a recent interview Binance CEO Changpeng Zhao announced Binance is planning to open an office in Malta and start fiat to crypto exchange.
According to Zhao Binance is in talks and close to securing a deal with local banks that would be able to provide the fiat to crypto exchange.
The move comes shortly after Japan’s Financial Services Agency (FSA) warned Binance about doing business with Japanese residents without the proper permission.
According to the FSA Binance did not confirm identities and would face criminal charges if they continued to operate without a license.
Many crypto companies are facing regulatory uncertainty right now, especially after the SEC started investigations into crypto ICOs, exchanges, and funds this month.
So cryptocurrency projects are doing what you would expect, going to where they are treated best. And Malta is looking to become a leader in crypto and the blockchain.
Malta is a tiny island nation located in the Mediterranean Sea just south of Sicily, Italy.
It recently launched the Malta Digital Innovation Authority which will regulate blockchain businesses and provide legal certainty for the space.
Its Prime Minister Joseph Muscat recently tweeted, “We aim to be the global trailblazers in the regulation of blockchain-based businesses and the jurisdiction of quality and choice for world class fintech companies.”
Binance isn’t the only one interested.
Justin Sun of Tron recently tweeted they are considering investing in Malta.
And Kris Marszalek, CEO of Monaco Card, tweeted the same.
Let’s see if Malta can bring “legal certainty and trust” to cryptos.
and trade cryptos on Binance
Prepare to see more of this type of incorporation.
If you have the correct RICC paper work these little islands are your best friends.
Shoot Puerto Rico may be my new home soon.
Lol I may have to move there too!
Well if you need help with residency I have folks who can help 😉
Additionally, Malta is trying to become a hub for Blockchain and digital asset ventures. The nation has repeatedly held consultations and harbored cryptocurrency exchanges before. As reported by the Malta International, the nation plans to certify and provide a regulatory framework for Blockchain related business so that their operations can go uninterrupted, the same thing applies to ICO’s.
Very progressive, love it. Thanks for sharing!
Great contribution. more information is there.
Thanks for shear.
Happy Steeming.
Thanks!
Have you seen developments in Indonesia?
From what I've heard the govt has warned against cyrptocurrencies, yet at the same time crypto traders are starting to outnumber stock traders in the country. Very interesting. If enough people are pro crypto the govt might have to get on board.
Great contribution.
Get information from here.
Thanks for shear it.
Happy Steeming.
Personally, I think it's a step in the right direction, and I would do the same if faced with scrutiny. Plus, I hear Malta is pretty nice.. lots of tourists.. LOL
If Binance starts accepting FIAT to crypto, i forecast a very promising future for that exchange and a big raise on their current price.
That would be a game changer for sure.
I hope we'll see binance in all around the world. here in Pakistan most of the traders are using binance as an exchange.
It's a good sign for binance as well as traders,
Very cool thanks for the info.
your information always helpful.
carry on
Cheers!
It's a good news. I thing one day every country understand the crypto power. Mainly developing countries have a less idea about crypto. We can spread the crypto knowledge everywhere. Thanks sir for your valueable post.
It's great for Malta... the bigger countries will get on board... eventually.