Binance, the world’s largest cryptocurrency exchange by trading volume, is now available in Malta. The Malta-based firm announced the news today, saying that it has “successfully completed” its registration with the Malta Financial Services Authority (MFSA).
The news comes just days after Binance CEO Changpeng Zhao revealed that the company is “close” to setting up shop in Malta. At the time, he said that Binance was working on obtaining a “legal framework” in the country.
With its new MFSA registration, Binance is now one of a handful of cryptocurrency companies to be officially licensed in Malta. Others include BitPay, OKEx, and Coinsuper.
The Maltese government has been welcoming to cryptocurrency companies. In March 2018, the country’s Prime Minister Joseph Muscat said that he wanted Malta to become “the blockchain island.
” Since then, a number of high-profile crypto companies have set up operations in the country.
NOTE: WARNING: Before investing in Binance, users should verify its legality and availability in their jurisdiction. Binance is not currently available in Malta, and users of the platform from Malta may be subject to legal action from their local governing bodies.
Binance’s move to Malta comes at a time when the company is facing increased scrutiny from regulators around the world. In March 2018, Japanese regulators ordered Binance to stop operating in the country without a license. And last month, Binance was hit with a $110 million fine from the U.
S. Commodity Futures Trading Commission (CFTC) for illegally offering futures contracts to American investors.
Despite these challenges, Binance continues to grow at an astounding rate. The company reported $200 million in profits in Q1 2018 and is on track to generate $1 billion in profits for 2018 as a whole.
In conclusion, yes Binance is available in Malta after successfully registering with the MFSA. The company is one of a few select cryptocurrency companies to be officially licensed in Malta and has been welcomed by the Maltese government.
Despite recent challenges from regulators, Binance continues to grow rapidly and reported $200 million in profits in Q1 2018.
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