Maltese regulator kicks out Binance exchange

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The Binance cryptocurrency exchange is being kicked out of Malta due to the lack of a license. This was announced in an official statement by the Malta Financial Services Authority (MFSA), which acts as a regulator. In addition, an investigation will be conducted into the implementation of financial services in Malta in relation to Binance. Indeed, in order for the services to be provided by the Binance exchange, Malta must issue a license to it, based on the Virtual Financial Assets Law.

The head of Binance, Changpeng Zhao, said that such a decision of the regulator is far from the actual situation, because the exchange does not operate in Malta. Zhao did not specify the location of the Binance headquarters, and at the same time reproached him for not understanding the essence of the cryptocurrency business, which leads to confusion.

Where the headquarters of the Binance exchange is located is not exactly indicated, everything is at the level of rumors and secrets. In November 2019, The Block reported, citing anonymous sources, that due to the use of a VPN by the Shanghai office staff to bypass the Great Firewall of China, the cryptocurrency exchange was targeted by law enforcement agencies. And with the Chinese government banning cryptocurrency businesses, the office is sealed and further litigation pending.

Following this event, Zhao posted on Twitter that Binance had not had a Shanghai office for “more than two years.” Here is the link:

An interesting point is that just a day before the publication of the news about the closure of the Shanghai office, the head of the exchange published a post that the offices were as outdated as SMS and MMS.

It can be assumed that the Binance cryptocurrency exchange will continue its work on active development and will continue to open its offices in different countries. And it is likely that we will hear about such stories more than once and hear contradictory statements.

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