Crypto

Binance CEO Quickly Squashes Half-truths Regarding Malta

Twitter always seems to be up in arms when it comes to cryptocurrencies. This week, someone explained how Binance is now licensed to operate in Malta. 

While that is indeed a fact, it simply doesn’t matter.

Binance Seemingly has Nothing to do With Malta

Binance is not based in the country, thus obtaining an authorization in the country isn’t of great importance.

As was to be expected, Binance CEO Changpeng Zhao was quick to respond to any allegations. 

He confirms how the company isn’t based in Malta, nor will they open offices there. 

This is despite Zhao confirming there were plans to open a Maltese office several years ago.

For the time being, the company will keep its headquarters in Japan, where crypto regulation is more favorable.

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Why the Malta Financial Services Authority decided to openly target Binance, remains somewhat unclear.

This misinformation was spreading like wildfire on social media in quick succession.

Now that things are finally calming down again, it seems most people have already forgotten about this “incident”.

Malta has proven to be an interesting location for crypto firms globally.

However, all companies need to acquire the proper authorization prior to offering any services or products.

To this date, several dozen companies have expressed their intention to gain approval in this country.

JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

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