On April 12, world’s second largest crypto exchange platform, OKEx published an important press release stating that the platform is officially going to operate in Malta. This information was interestingly followed by the recent announcement made by Binance, world’s largest crypto exchange by trade volumes, which confirmed their intention of opening an office in Malta as well.
OKEx is currently the second highly ranked cryptocurrency exchange platform by trading volumes in 24 hours on CoinMarketCap. The platform trades more than $1.6 billion over 24 hour period.
Recently the government of Malta passed regulatory legislation concerning Blockchain, cryptocurrencies, and Initial Coin Offerings. Such recent large announcements prove the government’s long-term intentions of becoming a crypto-friendly “Blockchain island”.
Earlier in February this year, Malta released a document called “Malta- a Leader in DLT Regulations” in addition to proposing to establish regulation-supporting organizations such as Malta Digital Innovation Authority Bill and the Virtual Currencies Bill in the country.
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As reported by OKEx team, they had been working towards meeting the regulations operating in the country for some time now. The team also mentioned that currently the platform is ready to operate in Malta and considering the huge efforts and positive approach of the country government towards the industry, the market of Malta is considered to be a great opportunity for further growth of OKEx.
While commenting on the recent announcement and expansion of OKE, the platform CEO, Chris Lee stated that the company is looking forward to working with the government of Malta which is forward looking when it comes to technologies. He also mentioned that they share many of similar values with Malta’s government; both are aiming on data security and protection of traders. According to the leader of the platform, currently it is more than important to recognize and accept innovative development and the great potential of Blockchain technology and the government of Malta is very successful in this.