Binance is the world’s largest cryptocurrency exchange by volume.
I last wrote about Binance in mid-March in the wake of an attempted hack. It was able to thwart the hack and soon after announced the launch of its decentralized exchange model.
Binance is back in the news again and this time it’s moving to Malta.
In a recent interview Binance CEO Changpeng Zhao announced Binance is planning to open an office in Malta and start fiat to crypto exchange.
According to Zhao Binance is in talks and close to securing a deal with local banks that would be able to provide the fiat to crypto exchange.
The move comes shortly after Japan’s Financial Services Agency (FSA) warned Binance about doing business with Japanese residents without the proper permission.
According to the FSA Binance did not confirm identities and would face criminal charges if they continued to operate without a license.
Many crypto companies are facing regulatory uncertainty right now, especially after the SEC started investigations into crypto ICOs, exchanges, and funds this month.
So cryptocurrency projects are doing what you would expect, going to where they are treated best. And Malta is looking to become a leader in crypto and the blockchain.
Malta is a tiny island nation located in the Mediterranean Sea just south of Sicily, Italy.
It recently launched the Malta Digital Innovation Authority which will regulate blockchain businesses and provide legal certainty for the space.
Its Prime Minister Joseph Muscat recently tweeted, “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.”
Binance isn’t the only one interested.
Justin Sun of Tron recently tweeted they are considering investing in Malta.
And Kris Marszalek, CEO of Monaco Card, tweeted the same.
Let’s see if Malta can bring “legal certainty and trust” to cryptos.
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