Binance moves to Malta after warning from Japan
Binance, the mammoth of all crypto exchanges right now is moving to Malta after the big daddy of the Japanese financial system, the Financial Services Agency (FSA) sent them a warning to cease their unlicensed operations. According to reports, the Japanese were wary of letting unlicensed operators continue after the Coincheck fiasco.
This comes after Changpeng Zhao, the CEO of Binance had just blasted the Nikkei Asian Review for irresponsible journalism and rumor mongering. Talk about bad timing ! We now know nothing ever makes sense in the real world, right, CZ ?
But did they falter ? No, this is Binance, we are talking about ! The people’s exchange ! They make millions of dollars a day ! Have they put a foot wrong till now ?
Immediately after a tweet from CZ stating that they have received the warning from the FSA, they also announce that they are moving operations to Malta. In Malta, Binance would open their fiat to crypto operations for the first time as well. They are in talks with local banks for a banking partnership.
“We are very confident we can announce a banking partnership there soon,” Zhao told Bloomberg. “Malta is very progressive when it comes to crypto and fintech.”
It got a very enthusiastic response from the Prime Minister of Malta himself.
Binance has been on a roll. They have become the largest crypto currency exchange in terms of volume, announced plans to stay ahead of the curve by introducing a decentralized exchange. One of the biggest thorns in their neck was the regulatory uncertainty that was brewing in both Hong Kong and Japan. It is surprising that they are moving away from the market entirely. Now they have managed to overcome that too with the open welcome from Malta.
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