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RE: Binance Moving to Malta - Island Nation Known for Tax Evasion and Money Laundering
Good information and perspective. I have a binance account, and have a couple pennies there. On the surface, I'm happy they're making a move to give themselves more freedom. Under the surface is where the scary things swim.
And then, ah yes, with more freedom comes more corruption by those willing to take advantage of those freedoms and use it to help themselves.
It's a double-edged sword. We want freedom for ourselves, but don't want others to take advantage of that freedom for their own benefits...yet we'd probably do much the same if we could.
Your information gathering is superb, and at least the rest of us can choose to use Binance or not with eyes wide open.
An exchange which holds other people's money has no moral or reasonable justification to desire more freedom. More freedom to do what exactly? Bitconnect had that kind of freedom and see what happened?
It's not necessarily more freedom to DO a certain thing; sometimes it is freedom FROM certain things. If crypto suddenly became illegal (as an extreme example) I'd want my exchanges to be in a place where legality could not touch it.
If crypto became illegal here? If its illegal in one country and not another then Binance could move corporate headquarters. My point is why should we trust a centralized exchange which is supposed to be regulated and trying to attract the big pocket customers when it moves to a country which has a questionable reputation in finance? I just think from a marketing and PR perspective the move is senseless.
If crypto suddenly became illegal everywhere or in the US for example then I would think it's very stupid to then trust a foreign country and centralized foreign exchange with your money. If the company goes to a specific country specifically to avoid legal consequences then I would be wondering what that company has to hide that it would do that rather than strive for compliance?