Binance is reportedly not authorized to operate in Malta


Binance is not authorized to operate under the jurisdiction of Malta. The verdict came directly from the Malta Financial Services Authority, the authority responsible for regulating the financial market.

“The Malta Financial Services Authority (MFSA) reiterates that Binance is not authorized by the MFSA to operate in the area of ​​cryptocurrencies and, therefore, is not subject to the regulatory supervision of the MFSA. However, the Authority is assessing whether Binance has any activity in Malta that is not within the scope of regulatory supervision. ”

The report concludes by pointing out that trading of virtual assets for the public to and from Malta requires an MFSA license that complies with the Virtual Financial Assets Act of 2018.

Actually, the declaration of the authority is somewhat surprising because since March 2018 it was known that Binance had moved to Malta and the Prime Minister Joseph Muscat He enthusiastically received the news with an unequivocal tweet.

Not only that, in September 2018 the exchange even made a agreement with the Malta Stock Exchange to launch an exchange of trade security tokens.

Why, after almost two years, does it happen that Binance cannot stay in Malta, or rather, is not authorized to operate in accordance with local laws?

The mystery remains to be solved. On the website, in the section About us, there is no official headquarters. But there are several places in the world, including malt, as well as London, Paris, Berlin, Moscow, Istanbul, Singapore and New Delhi.

For the moment There are no official comments, neither from the exchange nor from CEO Changpeng Zhao.

Binance was founded in Hong Kong, but then left China due to the cryptocurrency ban. After trying to move to Japan, they announced that they were settling in Malta. But apparently, this relocation was never completely regulated.

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