Binance the second-largest exchange as per the daily trading volume data released by Cointelegraph has said it is not licensed to operate and even it is not regulated in Malta, this statement is released by the country’s chief financial watchdog. This Malta Financial Services Authority had made a statement on Friday denied the fact that it has regulated the exchange or the exchange
Binance is not authorized by the MFSA
As per the reports where the exchange is referred to as a Malta-based cryptocurrency, the regulatory has announced that the exchange is not authorized by the MFSA to manage in the cryptocurrency environment and hence, it is not subjected to regulatory oversight by the MFSA. The exchange also announced that it was planning to launch an office in Malta in March 2018 soon after its clash with regulators in Japan, where the exchange was trying to establish its presence. During that time, Maltese Prime Minister Joseph Muscat announced that it would welcome the exchange to the country by tweeting the island nation would support the exchange’s goal to be the global trailblazers in the regulation of businesses based out of Blockchain. Call on Binance helpdesk number which is always functional and the team is ready to support you at every time.
This is old news and always has been the case – CEO of Binance, Changepeng Zhao
In September 2018, the exchange has also said that it would start its working terms with the Malta Stock Exchange (MSX) in order to start offering security token trading. In addition to it, the announcement was made in late 2019 said that it was creating funding for a new crypto-friendly Maltese bank. Though it is still unclear that the exchange has its office in Malta. The exchange has denied answering this question before publication, but, later on, the CEO of Binance exchange also called Changpeng Zhao tweeted that this is old news and always has been the same case.
The press releases sent By Binance listed Malata to the CoinDesk on Feb 11, 2020, though the exchange doesn’t have made any official statement related to where its headquarters is located. For availing more information about the exchange, you can always call on Binance customer support number which is always functional and the team is ready to guide you at every step. Connect with the team for availing quality methods.
The Binance’s Director for growth and institutional business, Josh Goodbody mentioned that since the exchange runs a decentralized operation, therefore, there is no crystal clear answer regarding where the exchange operates regulated businesses (for instance, Binance Singapore, Binance US, etc) and the exchange has been the teams based since. The MFSA also said in Friday’s announcement that it was presently assessing if the exchange has any activities going in Malta which don’t fit within the realm of regulatory oversight. Also, the regulator stated that executing the passing of the Virtual Financial Assets Act of 2018, Maltese businesses that traded or offered cryptocurrencies had to be fully licensed.