Binance announce that it will be setting up operation in Malta which located in the central mediterranean, South of the Italian island of Sicily. Malta is one of three largest island which are inhabited other two are Gozo, and camino.
CEO of Finance Changpeng stated "After meeting with Parliamentary Secretary, Mr Silvio Schembri, we were impressed by the logical, clear and forward thinking nature of Malta’s leadership. After reviewing a proposal bill, we are convinced that Malta will be the next hotbed for innovative blockchain companies, and a centre of the blockchain ecosystem in Europe. Binance is committed to lending our expertise to help shape a healthy regulatory framework as well as providing funds for other blockchain start-ups to grow the industry further in Malta."
Whats else is coming with this change
With this changes binance is also planing on creating a "fiat-to-crypto exchange" on Malta Island nation and its also close to securing a deal with local bank which will provide access to deposits and withdraws.
Conclusion
Even though the market has been in a downtrend for the past few days and even weeks we still see good progress in the crypto world with binance pushing forwards with all its plan.
