Binance will open an office in Malta and add support for Fiat

Because of problems with the Japanese regulator, the next destination for the Cryptoexchange will be Malta, Binance CEO Changpeng Jao ​​told Bloomberg.

He also said that Binance will soon launch a “Fiat-crypto exchange” and is close to concluding a deal with local banks that will provide deposits and withdrawal. “We are confident that we will be able to announce this banking partnership soon,” said Jao, but did not specify a specific time frame.

The government of Malta has already discussed crypto-regulation and has taken a favorable position with regard to crypto-exchange exchanges and ICO.

Last month, it became known about plans to create a separate body in Malta – the Office for Digital Innovations – which will certify and regulate the activities of the blockchain projects.
“Welcome to Malta, Binance. We strive to be at the forefront in the regulation of business, “wrote Prime Minister Joseph Muscat in his Twitter.

Jao said that the Maltese government invited him to participate in the evaluation of the forthcoming bill in the field of crypto-industry. “Malta is very progressive in issues of cryptocurrency and finteha,” said Jao.

He also informed Bloomberg that he is continuing negotiations with the authorities of Hong Kong, but their outcome is unclear.

His company became one of seven crypto-exchanges that received a warning from the Securities and Exchange Commission of Hong Kong (SFC) last month demanding a license to trade tokens that fall under the definition of securities.

 


Write: Richard Abermann


 

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