According to a press release published 12th April by OKEx – Malta, which recently passed regulatory legislation on Initial Coin Offerings, cryptocurrencies, and Blockchain in the hope of becoming a cryptocurrency-friendly Island of Blockchain is making way for one of the biggest crypto exchange OKEx to the country.
Crypto exchange Binance, which is the largest crypto exchange in the world when it comes to volume of trade, also made a report that they intended to open an office in Malta after they got a warning from the regulators in Japan. They made this report at the end of last month.
WhalePanda, a Twitter persona and crypto trader tweeted early hours of Thursday morning about the move of OKEx to Malta. In the tweet, WhalePanda said that Malta is getting crowded.
Island of Blockchain
A few months ago (February to be precise), Malta published a document titled “Malta – A leader in Distributed Ledger Technology Regulation” – they did this as part of their plan to make their country a center of attraction for blockchain as well other crypto-related businesses.
They also anticipated the establishment of some regulation supporting organizations, such as the Virtual Currencies Bill (VCB) and Malta Digital Innovation Authority Bill (MDIAB). After meeting with the regulators of Malta regarding the crypto framework regulatory, OKEx wrote in their press release that they have confidence in the approach of the government of Malta and they have agreed to make Malta a solid foundation for the growth of OKEx.
Chris Lee, the CEO of OKEx made a statement on how he looks forward to working with the government of Malta and how this partnership can yield great results and improve the development in the ecosystem of Blockchain.
OKEx is the second largest crypto exchange in the world by twenty-four hours trading volume. It is currently trading over $1.5 bln in a period of twenty-four hours.
Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.