Binance to Open Office in Malta

Move to sunny island comes after crackdowns in Japan, China
23 March 2018   581

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 Donate $1M to Japanese Flood Victims

Changpeng Zhao called cryptocurrency community for donations
09 July 2018   359

Binance, the largest in terms of trade transactions, has donated $ 1 million to flood victims in Japan, and invites other companies and individuals to join the charity initiative.

Our hearts go out to the victims in West Japan. Binance will begin with a $1,000,000 USD equivalent donation in either BNB, BTC, or JPY. We also ask our crypto partners to join us and help our friends in need.
 

Changpeng Zhao

CEO, Binance

Changpeng Zhao noted that the exact scheme for transferring funds to the flood victims will be determined in the very near future. Those who also want to make a donation, are invited to a Twitter reply, while such a gesture of good will will be taken into account when considering their coins listing on Binance. Such a donation can be done in ETH or ERC-20 tokens.

A major flood in Japan this week was caused by a typhoon that caused heavy rainfall. According to themedia, as of Monday mornng the number of deaths due to torrential rains and landslides reached more than 100 and many are reported missing.