Binance to Open Office in Malta

Move to sunny island comes after crackdowns in Japan, China
23 March 2018   265

The Binance Exchange plans to open an office in Malta. This is reported by Bloomberg.

In the near future, Binance will begin to service trades under the "fiat-cryptocurrency" scheme. The exchange is already close to concluding an agreement with Maltese banks, which will allow it to handle the input / output of fiat, Zhao said, without specifying a specific time frame.

The restrictions imposed by the authorities of China and the United States forced Binance to seek new jurisdiction to host its business. The exchange tried to get a license from a Japanese regulator and even opened its office in the country, but then they was forced to close it to avoid problems with local authorities, Zhao said. Financial Services Agency of Japan issued a warning to Binance this Friday for the trade without a license.

Zhao said that he continued to negotiate with the regulators of Hong Kong, but this did not lead to anything. Binance was among the seven crypto-exchange sites that received a warning from the Securities and Exchange Commission of Hong Kong, which demanded that they not trade digital assets designated as securities.

Malta tries to develop cryptocurrency industry. The government held several public consultations on the regulation of cryptocurrencies, ICO and trading platforms.

Zhao said that he was invited by the Maltese government to participate in the process of preparing the law to regulate the industry of crypto-currency.

Binance to Deny Dollar Trading Launch

These reports are "fake news," as company's spokeswoman said
20 April 2018   112

Binance Exchange has denied the information that it will allow its users to buy digital tokens for US dollars. This is reported by Bloomberg.

These reports are "fake news" the company's spokeswoman said in response to a request via e-mail.

Articles that Binance will launch dollar trading flew Twitter and several crypto-currency websites on Friday, along with the prices of altcoins, including EOS and Monero, went up.

Today, 20th April 2018, a number of reports have been published about the addition of dollar trades on Binance, but all of them, in fact, are a reference to an earlier article of the same Bloomberg, published on March 23, in which the CEO of the exchange, Zhao Changpeng, talked about the company's plans to move to Malta , the search for a banking partner and the possible launch of trading under the "fiat cryptocurrency" scheme. Zhao didn't name the fiat currency that can be used in this type of trading.