Bitcoin & cryptocurrencies are usually frowned upon by politicians and many major financial individuals. Today, however, the prime minister of Malta, Joseph Muscat, personally welcomed one of the biggest cryptocurrency exchanges Binance on Twitter.
Joseph Muscat also added that Malta is aiming to become a global trailblazer in regulation regarding blockchain based business and presumably also cryptocurrencies.
Welcome to #Malta 🇲🇹 @binance. We aim to be the global trailblazers in the regulation of blockchain-based businesses and the jurisdiction of quality and choice for world class fintech companies -JM @SilvioSchembri https://t.co/3qtAQjOpuQ
— Joseph Muscat (@JosephMuscat_JM) March 23, 2018
This news emerged after CEO of Binance, Zhao Changpeng, announced that Binance was opening a cryptocurrency to fiat exchange in Malta.
Binance is currently in the works of closing a deal with local banks to establish fiat deposits and withdrawals for users of the exchange.
Binance was founded back in 2017 and became one of the biggest crypto exchanges in record time. Today more than 2 billion dollars are traded in cryptocurrencies on the exchange.