Morgan Stanley research: Certain rules the main factor for cryptocurrency exchange companies when choosing a country

Morgan Stanley research: Certain rules the main factor for cryptocurrency exchange companies when choosing a country


Due to a clearly certain normative base on Malta now there is the greatest stake of volume of trading in cryptocurrencies in the world. This conclusion comes from the report of Business Insider on Sunday, April, 29, to that the recent research conducted by the bank of Morgan Stanley is driven.

The group of researchers of Morgan Stanley, headed an analyst by Sheena Shah , undertook a study on distribution of cryptocurrency exchanges and volumes of crypto trading in entire countries on the basis of data of volume from Coinmarketcap and information about registration of company, corresponding exchanges enumerated on websites.

In the first five of countries on the volumes of crypto trading volume are Malta, Belize, Seychellois Islands, the USA and South Korea, while in countries, where the most of exchanges lives, there are Great Britain, Hong Kong, USA, Singapore and Turkey.

Disparity of data of Malta and Belize became one of the basic opening of research – two countries are the first and second in the world on volume trade, but only 22 and 24 numbers on the number of the registered companies accordingly.

In opinion of researchers, this seeming contradiction is explained by that these relatively small countries actually place two largest exchanges on volume bidding. Binance moved from Hong Kong to Malta, promising to do it in March of this year, and OKEx, presently the second-largest exchange from data of Coinmarketcap, officially registered in Belize. Shah  commented:

“The largest exchange, adopted Binance, declared intentions to create headquarters there, therefore, if we will take this company, Malta will be far below on a list”.

On the whole, Shah  came to the conclusion, that a favour of local rules of crypto treatment is one of the basic factors taken into account by crypto exchange processes at a decision-making about that, in what country to register oneself. She added that in an order to be attractive, certain normative base not necessarily to be soft, but clearly enough certain, because it means that exchanges “know, what to expect” and can “plan the future”.

This supposition corresponds to experience of Malta, whose government declared that it accepts favourable position in regard to cryptocurrency enterprises recently. Research of Morgan Stanley’s gave obvious proofs that active development of Malta of carefully thought out legal base has the expected garden-stuffs now.

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