Manual cryptocurrency exchanges Binance plans to move business to Malta. This writes the news Agency Bloomberg citing the CEO of the exchange Canina jao (Changpeng Zhao).
According to the publication, a company founded last year in Hong Kong, will soon open an office in the territory of the island nation, where will start the exchange with the exchange of cryptocurrency for Fiat money. In addition, according to jao, the company is close to signing a contract with the local banks, which will provide access to deposits and withdrawals.
“We are absolutely confident that we will soon be able to announce the partnership with banks. Malta is a very progressive state when it comes to cryptocurrency and Finance,” said CEO Binance.
We will remind, since last year, regulators in many countries – from China to the United States – took harsh measures against cryptocurrency exchanges interfere with the operation of such companies on their territory. After a ban on stock trading digital currency in China, the company opened an office in Japan, where he tried to get licensed by the local regulator.
Nevertheless, the Japanese financial services Agency (FSA) this week issued a warning Binance, citing a lack of official permission to carry out activities.
According to jayo, he continued discussions with Hong Kong authorities, but the negotiations have not given any certainty. Citing an anonymous source familiar with the situation, Bloomberg notes that Binance was among the seven other cryptocurrency exchanges, has received a warning letter from the Commission on securities and futures of Hong Kong with a demand to stop the trade in digital assets that fall under the definition of securities by local laws.
Faced with such circumstances, Binance, planning to become a hub for companies working with digital assets, has continued to consider various options, ultimately focusing on the Mediterranean state.
It should be noted that the Maltese government has conducted several public consultations regarding the regulation of virtual Commerce, tomenselo and cryptocurrency exchanges. According to the newspaper Malta Independent last month by the Office of digital innovation of Malta outlined the main aspects of the future of business regulation, based on the blockchain, including a system of certification. It is reported that the organization also intends to create a monitoring mechanism for the ICO.
“Welcome to Malta, and Binance. Our goal is to be pioneers in the regulation of business, based on the blockchain,” wrote on Twitter the Prime Minister of the state Joseph Muscat (Joseph Muscat).
According to Canina jao, recently he was also invited by the government of Malta to participate in the consideration of the bill, which is expected to be very favorable for the cryptocurrency business.
We will remind, recently the team Binance announced the beginning of developing blockchain technology to run a decentralized platform.