One of the biggest if not the biggest crypto exchange is based in Malta and has managed to avoid much of the regulatory problems that exchanges based in the USA have.
Perhaps that is why they hold the position they do.
It is a simple platform to sign up to, allows many trading pairs including Steem without all the KYC deterants that stop new users getting into the crypto space.
Well done Binance
https://www.ccn.com/investor-binance-is-most-trusted-crypto-exchange-despite-light-regulation/