Let us introduce you to the Republic of Malta – a Southern European island county consisting of the archipelago in the Mediterranean Sea – and a nation that consists of three main islands. Despite being small in size, Malta has a lot of tourist attractions and offers plenty of activities for everyone.
Over the past few years, this island has gained the reputation of being blockchain-friendly. According to many, Malta is ‘the blockchain island’ everyone in the industry needs to visit – mostly because of the legislature that is crypto-friendly and officially allows Initial Coin Offerings (ICOs) and cryptocurrencies.
Inviting Crypto Businesses, ICOs, And Exchanges In A Blockchain-Friendly Environment
Earlier this year, the government of Malta released a document which was entitled “Malta- A leader in DLT Regulation” which officially put the start of several regulation-supporting organizations like the Malta Digital Innovation Authority Bill and the Virtual Currencies Bill.
However, these bills were not the only ones moving to the blockchain-liberty island. One of the companies that recently moved to the (blockchain) island of Malta is OKEx – the second largest crypto exchange in popularity and user count.
The move was confirmed by the OKEx CEO Chris Lee, who stated:
“We look forward to working with the Malta government as it is forward thinking and shares many of our same values: the most important of which are protection of traders and the general public, compliance with Anti Money Laundering and Know Your Customer standards, and recognition of the innovation and importance of continued development in the Blockchain ecosystem.”
Meanwhile, OKEx is an exchange with a $1.6 billion trading volume (over 24 hours) on CoinMarketCap which makes it the #2 largest one in the world and a very popular destination for crypto holders and traders.
This move by OKEx also attracted other exchanges interested in moving their physical locations to Malta. Binance, which is the largest cryptocurrency exchange platform, is also set to move to the island and be welcomed by the Prime Minister.
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