What do you do when Japan’s financial regulator warns you you’re breaking the law? Move to Malta, of course!

At the end of last week the recovering bitcoin market was hit by news that Japan’s Financial Services Authority (FSA) had told Binance to stop operating in the country. Binance, one of the world’s newest but largest crypto exchanges, is not registered with the FSA. Zhao Changpeng (‘CZ’), Binance’s CEO, appeared to deny the reports, which were initially published by a local news outlet but quickly spread on the web.

Now – apparently following direct collaboration with the government of Malta – it seems that Binance will answer the challenge by moving its banking operations abroad. As CZ stated, ‘We are very confident we can announce a banking partnership there soon. Malta is very progressive when it comes to crypto and fintech.’

Joseph Muscat, the Prime Minister of Malta, tweeted: ‘Welcome to #Malta @binance. We aim to be the global trailblazers in the regulation of blockchain-based businesses and the jurisdiction of quality and choice for world class fintech companies -JM’

It’s clear that Binance has a bright future, thanks in part to friends in high places.

Just not quite as high as the Japanese government.

Read more at https://cointelegraph.com/news/major-crypto-exchange-binance-to-open-office-in-malta-after-japanese-regulator-warning

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