Binance CEO Zhao Changpeng officially announced that the cryptocurrency platform is opening an office in Malta. Binance is going to enter into contracts with a number of local banks, and will also introduce a service for exchanging digital currencies for fiat for clients.
Changpen also expressed confidence that agreements with banking organizations will be concluded very soon, because Malta is loyal to cryptocurrencies and fintech.
The platform came under pressure from regulators at the end of 2017, and for some time it managed to maintain stability. Later, Binance planned to obtain an official license for its activities in Japan.
The “cherry on the cake” was the company receiving an official warning from the Japanese regulator, which apparently prompted Binance to abruptly change its location.
The CEO of the exchange also announced negotiations with the Hong Kong regulator. How they will end is currently unclear; especially since Binance, along with the other six exchanges, received a warning from the Hong Kong SFC. It states that trading cryptocurrencies in this country is equivalent to trading futures and securities.
As for Malta, the island’s government expresses favor for cooperation with the exchange, as evidenced by the welcome post on Twitter by the Maltese Prime Minister Joseph Muscat.
The Malta Independent reported a month ago about the creation of a body regulating crypto business at the local level. This is another ace up the sleeve of Binance, which now has a chance to become a real “Maltese crypto paradise” for investors.
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