Binance opens new office in Malta with Prime Minister openly welcoming it
Binance, a major cryptocurrency exchange, has opened a new headquarters in Malta and moves there, as reported by several technology-related and financial press outlets. The subsequent reaction from the country’s Prime Minister is noteworthy due to the following reasons.
Unlike the regulators in Hong Kong and Japan (although in the latter case, rumors have been vehemently rejected by the exchange CEO), authorities of Malta plan to make their jurisdiction friendly to digital currency organizations. This is why Joseph Muscat, Prime Minister of Malta, has even welcomed the decision of the exchange on his own Twitter account:
Welcome to #Malta @binance. 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 -JM @SilvioSchembri https://t.co/3qtAQjOpuQ— Joseph Muscat (@JosephMuscat_JM) March 23, 2018
In response, the CEO of Binance has stated that Malta was one of the most progressive countries he has ever dealt with.
This demonstrates how the cryptocurrency business, not willing to debate with regulators endlessly, finds new places to conduct operations. In a similar case, Gibraltar has apparently already benefited from its decision to have a consistent and ICO-friendly legal policy. Local authorities state that 200 ICOs have registered and there’s more to come.
Image courtesy of Alamy