Another large cryptocurrency exchange prepares to transfer its business to the “island of the blockchain.”
OKEx, the Hong Kong digital asset exchange, which is one of the largest in terms of volume of trading platforms, announced this Thursday that it will open a new office in Malta, which will become “the basis for the future growth of the company”.
“The law on virtual financial assets of Malta – this is a reliable basis for the industry, and joint work with the government will be aimed at stimulating the digital assets and blockchain industry. Malta’s approach, based on a clear risk assessment, will help create a responsible, standards-compliant and healthy ecosystem,” said Tim Byun, Head of Risk Assessment and Relations with the Governments of OKEx.
“We are waiting for the moment when we can start working with the government of Malta, because it is progressive and shares common values with us, the most important of which are the protection of traders and the public, compliance with the requirements of the law on money laundering and customer identification standards, recognition innovation and the importance of the continued development of the blockchain ecosystem,” Chris Lee, CEO of OKEx, added.
Currently, OKEx is located in Hong Kong, regulators of which until recently were very supportive of cryptocurrencies, but recently began to tighten the requirements for crypto exchanges and ICO.
Malta, on the other hand, actively attracts crypto exchange companies. In March, a large cryptocurrency exchange Binance announced its intention to move the trading floor to Maltese jurisdiction, after being forced to close an office in Japan.