Binances operations has moved to Malta, a friendly island nation in the European Union.
Opening an office on Malta gives Binance several advantages. One of which is that they can start to set up a fiat-to-crypto trading pair, allowing people to purchase crypto directly with USD or the Euro.
Read more + actual quote from CEO:
http://thebitplex.com/2018/03/23/binance-malta/But what does this mean for altcoins? Will they finally detach from the swings of Bitcoin?
Will Bitcoin dominance go down? Will more institutions look into altcoins as an investment?
Could we see more places to pay in altcoin?
Indeed. Its free from the claim of Japan and its regulations. Definitely movement of binance to Malta has given it advantages. It doesnt have to worry about being regulated anymore and can stay decentralize exchange as long as it wants to. Introducing fiat trading pair will surely prove healthy for the traders.
One exchange wont matter much, but surely exchanges introducing fiat currency trading pairs will loosen then hold of BTC on other altcoins. Its good for altcoin that slowly they will be freed from the influence of BTC and will be able to rise and fall according to their will. This surely will be bad for BTC though.