The larges cryptocurrency exchange of Poland Bitbay decided to suspend its activities in the home jurisdiction, as banks no longer want to cooperate with it. The exchange will move to Malta, whose laws are more welcoming to the participants of the cryptocurrency market, and will work under the guidance of the new operator.
Bitbay writes that its activities in Poland directly depend on interaction with local banks, but the last Polish bank that serviced the exchange accounts decided to suspend cooperation in the end of May.
Bitbay will close access to Polish zloty accounts after May 31. Other functions of the site will be available in full scale, however, after September 17, all trading activity on the site will be suspended, and users will only be able to withdraw their money and will not be able to make deposits.
Clients of the company will have the opportunity to register again, after the exchange has reinstated its activities in Malta. Although the platform will be managed by a new operator, it will retain the bitbay.net domain and the BitBay trademark.