{"id":39034,"date":"2018-03-24T13:53:09","date_gmt":"2018-03-24T20:53:09","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=39034"},"modified":"2019-11-07T06:01:48","modified_gmt":"2019-11-07T06:01:48","slug":"binance-malta","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/binance-malta\/","title":{"rendered":"Binance Moves its Headquarters to Malta Seeking More Crypto-Friendly Legislation"},"content":{"rendered":"

One of the fastest growing crypto exchanges over the past year, Binance<\/a>,\u00a0announced<\/a> on its official blog its intention to move operations to the European island of Malta.<\/p>\n

This decision comes after the difficulties experienced to operate under the conditions imposed by the Japanese government. A few weeks ago the Asian newspaper Nikkei reported<\/a> that the Financial Services Agency of Japan (FSA) said Binance was operating in Japan with no registration and judged that investors could suffer damage. In turn, this led\u00a0many investors\u00a0panicked<\/span>, and this immediately led to a bearish trend in bitcoin prices.<\/p>\n

The warning announced by the FSA, in addition to a series of obstacles and government threats made Asia an unpleasant place for an exchange as crucial to markets as Binance.<\/p>\n

Previously, on February 9, Hong-Kong's Securities and Futures Commission (SFC)\u00a0 issued a warning<\/a> that indirectly affected Binance:<\/p>\n

Investors who store their fiat currencies and cryptocurrencies with unregulated cryptocurrency exchanges should be aware of the risks of hacking and misappropriation of assets.”<\/p><\/blockquote>\n

To overcome these obstacles, the notorious Hong Kong-based Exchange decided to take action, and similarly to what some New York-based exchanges did when the BitLicense was announced<\/a>, began the search for a better place to settle.<\/p>\n

Malta: A beautiful place to trade crypto<\/h2>\n

Malta is a small European island, whose leaders are looking to position within the world of cryptocurrencies as a reference country in legal regulations attracting investors in FinTech and related industries.<\/p>\n

According to the national newspaper The Malta Independent<\/a>, the country is determined to create a new agency called the Malta Digital Innovation Authority, which would not only regulate the subject matter of the cryptocurrency market but also promote suitable conditions to attract investors.<\/p>\n

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M for Malta. It's beautiful!<\/a><\/p>\n

A post shared by Cz<\/a> (@changpengzhao) on