US-based Bitmora, a startup cryptocurrency exchange, announced earlier this week that they will be moving their operations to Malta.
Earlier this week, the Bitmora Team announced that they are packing their bags and moving to Malta with hopes of attaining breathing room regarding the regulatory restraints imposed by the United States. Bitmora is a startup cryptocurrency exchange that had been set to launch May 12th. However, that date has since been pushed back to May 26th while they finalize their move and add several premium features to their exchange for launch.
Moving to Malta has put Bitmora in the ideal position, not only have they escaped the regulatory walls the US is constructing, but they have also provided themselves room to launch an ICO in the near future.
Bitmora recently announced that an ICO could serve as a wonderful opportunity and have entered the planning stages of implementing a utility token. Much like other exchanges, Bitmora would utilize a token that brings cheaper trading fees to their users, but that’s just a bonus to its innovative core purpose. Bitmora has made it their mission to integrate their token into their user voting portal to bring a truly democratic voting experience to their community using the Blockchain. This would mark the first step towards Bitmora becoming a fully Blockchain based company, which has been their goal since the very beginning.
An ICO would allow them to raise the funds needed to start the development of their Decentralized Exchange (DEX) protocol. While many decentralized exchanges lack liquidity, basic trading features, and a friendly user interface, Bitmora plans to solve this by utilizing their incredible community backing.
While Bitmora has stated their primary reasons for moving as numerous regulatory walls and an overly conservative banking system, they have not fully lost hope for America. The team is standing by for US regulators to catch up to the modern world and take on new technology. It was initially thought that this could take place in late 2018-2019, but with recent news of the NASDAQ and ICE coming into play, clearer regulations might arrive sooner rather than later. In the meantime, Bitmora’s team will maintain their high standards for listed coins to ensure a seamless transition back to the States when the time is right.
Despite having an office in Malta,, Bitmora’s headquarters will still be located in San Diego. Most of the Bitmora team will continue residing in the United States with only a few being located in the Malta.
This is a sponsored press release and does not necessarily reflect the opinions or views held by any employees of The Merkle. This is not investment, trading, or gambling advice. Always conduct your own independent research.
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