The island of Malta seems restless: it has recently announced that ZB exchange, which belongs to the top-5 dominant cryptoexchanges, is preparing to move to the island.
The cryptoexchange intends to launch its new European branch in Malta. An office is to be opened in the St Julian’s business center. Among other major digital currency operators, Malta can name Binance, OKEx, and DQR.
The firm will commence operations as digital currency exchange only, introducing fiat-trading pairs later in the process.
While Malta makes everything necessary to stay on top of the game, other countries are hesitating and putting off policymaking efforts, including the introduction of digital currencies and blockchain businesses. Nevertheless, the case with Malta is very different, where the government is considering cryptoregulations along with the Virtual Financial Assets Act. The draft laws will entry into force in October of this year.
Upon being invited by his local colleagues to meet the Maltese officials in order to talk about the operations of the cryptoexchange, Zhao admitted that with such approach it did not take long for him to acknowledge the island’s commitment to establishing and developing the digital currency ecosystem.