Japan's Financial Services Agency issued a warning Friday to major cryptocurrency exchange Binance for operating without registration in the country.
Hong Kong-based Binance was operating in Japan through the internet without a license for a virtual currency exchange, according to a Google translation of the Japanese-language statement.
At the same day Binance CEO Changpeng Zhao, known in the crypto community as CZ, told Bloomberg that he had been invited to Malta by the government in order to look at an upcoming bill favorable to crypto businesses.
So, there are some questions on this situation. 1) Does it mean that we will be able to change EUR to crypto directly? 2) Which citizens are welcomed? For example, Bittrex prohibited to work those persons whose countries are under US sanctions. What for Malta on this issue? 3) Will this move from Asia to Europe contribute more crypto trading volume in EU countries?
I see this move as very smart decision since Hong Kong is become increasingly hostile toward cryptocurrency under the increasing influence of China.And it is not only Binance,but also Hong Kong based exchange Bitfinex which is according to some news preparing relocation to Switzerland.I think in any case Malta&Switzerland have a much better and healthier business environment then China when it comes to cryptocurrency.
1.I think if Binance start to operate in Malta probability to buy/sell crypto for EUR is very realistic.
2.Since Binance will work under law of EU,they will have to adapt on the laws and regulations which apply in this area.EU is under a pretty influence of USA,and if they have some requirements(ban some countries),I have no doubt that will be the case.
3.Such big exchange will probably have a positive impact on Europe crypto trading,and in combination with Bitfinex, things in Europe are changing considerably in favor of cryptocurrency.