Yesterday we reported that the FSA, the Japanese financial watchdog, was going to halt Binance operations inside the country. The prime reasons for doing so were two: lack of compliance with KYC policies, and operating without a license since last year. Binance’s CEO promptly responded denying such facts, claiming that they always had been in conversations with Japanese regulators and no halt measure had been taken.
But, as they say, there is no smoke without fire. It seems that the article of Nikkei Review had some truth in it. Today Binance’s CEO announced that they would be moving its headquarters and operational offices from Japan to Malta, according to Bloomberg. He did not refer to any causes officially. But the announcement comes one day after the news of the problems with the FSA.
The Prime Minister from Malta also gave Binance the welcome to the country, via his Twitter account. The company has been errant since its woes with the Chinese government during the crackdown. It then moved its offices to Japan but was apparently operating without a license since then. But now, the future shines bright; even the Prime Minister acknowledged them.
Binance is the biggest exchange of the world, according to CoinMarketCap, and it would certainly bring some income in the form of taxes and job posts to Malta. Maybe this action will spearhead the crypto movement in Malta in the near future. At least, this time Binance has found a safe haven to operate.