World's Largest Cryptocurrency Exchange Confirms It Is Moving To Malta

World's Largest Cryptocurrency Exchange Confirms It Is Moving To Malta

Major cryptocurrency exchange Binance has announced that it will be opening an office in Malta in the wake of yesterday's news that Japanese regulators had issued a warning to the exchange, Bloomberg reports today, March 23. However, no time frame for Malta launch was provided.

While the banking partnership announcement hasn't been made, and there's been no word if Binance intends to continue its operations in Hong Kong where it's now based - but has been experiencing pressure from key regulators in the territory - Binance's intentions in Malta have been widely publicized and the plan appears to be moving full steam ahead.

Around $6.2 million-worth of cryptocurrency was hacked from exchange accounts and wallet services in Japan past year, new data reveals. In January, Binance was rebuked by Japan's financial authorities amid a massive hack attack at the country's largest crypto exchange, Coincheck, and a slew of Bitcoin-related fraud uncovered by regulators.

"I'm sure Binance is going to help to build a strong ecosystem in Malta and also help entrepreneurs, funds and fintech to develop their initiatives."

Japan, one of the most active digital currency markets, introduced a licensing system for cryptocurrency exchanges previous year. Japan would add an additional big name to Japan's fledgling regulated crypto exchange arena.

Mohammed Shami cleared of corruption charges, BCCI renews his central contract
Dismissing the allegations against him, Shami said that he is true and after the BCCI verdict, he will win the next fight too. Board For Cricket Control In India (BCCI)'s clean chit to Mohammad Shami has come as a huge relief for the pace bowler.

Changpeng Zhao, CEO and Founder Binance said they were "impressed by the logical, clear and futuristic thinking after meeting with the Parliamentary Secretary". Zhao later confirmed the development through Twitter.

"Welcome to #Malta @binance", Joseph Muscat, the country's prime minister, tweeted on Friday.

Zhao thanked the government of Malta for its positive approach towards cryptocurrencies. This FUD has certainly affected the crypto market again and gave a rise to further uncertainty in terms of market recovery.

Zhao disclosed that he is still negotiating with authorities in Hong Kong, but has not reached any kind of agreement. According to the law of Hong Kong, digital assets are considered as securities. We'll have more if and when this becomes official. After reviewing a proposal bill, we are convinced that Malta will be the next hotbed for innovative blockchain companies and a center of the blockchain ecosystem in Europe. The organization will also establish the framework to oversee initial coin offerings.

Bianance is the largest cryptocurrency exchange in the world, according to data from CoinMarketCap.

Related Articles

  • PUBG is getting a new event mode

    PUBG is getting a new event mode

    To compensate for the increased number of players, the studio also doubled the rifle drop rate. Then on Friday at GDC 2018, Greene shared the first in-game footage of the map in action.
    Aussies claim T20 tri-series opener over Indian eves

    Aussies claim T20 tri-series opener over Indian eves

    Mooney and Elyse Villani found the boundary at ease, taking Australia to 57 for 2 at the end of the Power Play overs. Mooney and Villani ran really well between the wickets and used the sweep shot against the spinners to good effect.
    Polling ends for 25 Rajya Sabha seats in six states

    Polling ends for 25 Rajya Sabha seats in six states

    The Congress won three out of four seats - a gain of two - in Karnataka , while the BJP's strength was reduced to only one seat. Chandrasekhar of the Congress and Rajeev Chandrashekar of the BJP were declared elected by the Returning Officer.
  • Cardinals trade offensive lineman Jared Veldheer for 6th-round draft pick

    Cardinals trade offensive lineman Jared Veldheer for 6th-round draft pick

    He'll move to right tackle with second-year star Garett Bolles firmly entrenched in as the Broncos' starting left tackle. Veldheer appeared in 13 games for Arizona in 2017 and registered 53 starts in his four seasons with the Cardinals.
    Trump signs on tariffs against $50bn of China imports

    Trump signs on tariffs against $50bn of China imports

    The US trade deficit with China ran to a record US$375 billion a year ago - but US exports to the country were also at a record. And Finance Minister Taro Aso expressed empathy with Washington regarding the importance of protecting intellectual property .
    China unveils retaliatory measures against Trump's tariff threats

    China unveils retaliatory measures against Trump's tariff threats

    On Thursday, the administration of President Donald Trump announced that it would place tariffs on about 1,300 Chinese products. Donald Trump has taken a significant step in his promise to close the trade deficit that the United States now has with China.
  • City of Minot prepared for potential heavy snow over next few days

    City of Minot prepared for potential heavy snow over next few days

    Airlines canceled more than 4,000 flights Wednesday, but they lumbered back into service throughout the Northeast on Thursday. Most major roadways in the state were clear, but residents were being urged to drive cautiously and allow extra travel time.

    Shooting victim dies after removal of life support

    Speaking before taking the devastating decision, Melissa Willey said Thursday that Melissa had 'no life left in her'. Students from Great Mills High School were evacuated to nearby Leonardtown High School following the shooting .
    Focus on poor, backward: PM Narendra Modi to BJP MPs

    Focus on poor, backward: PM Narendra Modi to BJP MPs

    He said, party is starting Gram Swaraj Abhiyan from 14th of next month to 5th of May. Singh said that the prime minister will visit the best performing district.
  • Giants trade Pierre-Paul to Bucs for 2 picks

    Giants trade Pierre-Paul to Bucs for 2 picks

    The deal could indicate that the Giants are going to go defensive with the first-round pick in the draft, the second overall pick. Pierre-Paul's professional football career was in a doubt after a July 4, 2015 fireworks accident at his home.
    China says must protect interests in face of United States  trade actions

    China says must protect interests in face of United States trade actions

    China will allow foreign firms to enter its US$27 trillion payments market, People's Bank of China said in a recent statement. After the meetings, Mnuchin said in a press conference that it is not in US interests to start a trade war.
    Canelo Alvarez Suspended, May 5th Fight Against Golovkin In Question

    Canelo Alvarez Suspended, May 5th Fight Against Golovkin In Question

    The 27-year-old tested positive for the banned substance Clenbuterol on two separate occasions on February 17 and February 20. The Mexican was scheduled to fight Gennady Golovkin on May 5 in the much-anticipated rematch of their bout previous year .