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OKEx becomes the second major cryptocurrency exchange to settle in Malta

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Another important cryptocurrency exchange is about to settle in Malta, cementing the status a small Mediterranean island nation as a hub for cryptocurrency startups.

[OK] OKEx, the world's second-largest cryptocurrency exchange, measured by daily trading volume, announced Thursday that it would open an office in Malta and make it a "base for new OKEx growth".

"Malta's virtual financial assets law is a solid foundation for industry and the government to work together to promote the emerging blockchain industry / digital assets. Specifically, Malta's risk-based approach will help cultivate a responsible, compliant and healthy ecosystem, "said Tim Byun, Risk Manager and Head of Government Relations at OKEx.

"We are looking forward to working with the Government of Malta because it is avant-garde and shares many of our values: the most important are the protection of traders and the general public, compliance with anti-money laundering standards and recognition. of innovation and the importance of continued development in the Blockchain ecosystem, "added Chris Lee, CEO of OKEx.

Currently, OKEx is one of several exchanges based in Hong Kong, which is known for its favorable business climate but has recently begun to take a harder line against cryptocurrency trading and initial coin offerings. (ICO). ]

Malta, on the other hand, began actively courting cryptocurrency companies. Government officials have said they want to turn the EU Member State into a "Blockchain Island" by adopting blockchain-friendly legislation


Last month, he saw the first fruits of these efforts, while the other Hong Kong-based Binance Stock Exchange – currently the largest in the world – revealed that she would relocate her headquarters to Malta, rather than Japan as planned.

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The Maltese Prime Minister personally hosted the company in the region, and Binance's CEO, Changpeng Zhao, said he was aware of more than 20 cryptocurrency projects considering a move to Malta .

Notabaly, although OKEx and Binance are not the only exchanges based in Hong Kong that are plotting to relocate their operations. Bitfinex, the sixth largest cryptocurrency exchange, plans to move its head office to Switzerland.

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