Malta is one of the countries of the European Union,  and has taken important measures in order to attract different  blockchain and crypto-related businesses. Now, the Chinese cryptocurrency exchange based in Hong-Kong, Okex, will be moving to the  island of Malta.

Malta Receives Crypto-Related Firms

Joseph Muscat, Prime Minister of Malta, announced on Twitter that the government was welcoming OKEx to the island. 

“We welcome @OKEx_ world-leading digital exchange, to growing  blockchain ecosystem. #Malta fast becoming jurisdiction of choice for  Distributed Ledger #DLT Technology companies in European Union #EU &  globally.” 

https://twitter.com/MaltaGov/status/984344125381242880

- MaltaGov

 Malta is becoming a “crypto-island” as some individuals have started to  comment in the community. It has been working in order to attract more  crypto and blockchain related business to settle their operations in the  country. 

 “We look forward to working with the Malta government as it is  forward thinking and shares many of our same values: the most important  of which are protection of traders and the general public, compliance  with Anti Money Laundering and Know Your Customer standards, and  recognition of the innovation and importance of continued development in  the Blockchain ecosystem,” commented Chris Lee, CEO of OKEx crypto  exchange. 

Malta has a regulatory environment that has been created so as to  attract these technological firms. As it is regulated, companies are  able to work in a legal framework that protects customers and investors,  but at the same time, is not against the developing enterprises located  in the country.

Another important cryptocurrency exchange, Binance,  has also informed that it was moving its operations to the island of  Malta. At the moment, the cryptocurrency exchange is searching for  interested workers that would be able to help the exchange start its  operations there.

 The intention is to apply for a license once it becomes available,  operate in the island, and build a local team that will be helping with  KYC, AML, ATF, customer support, and other activities. 

Malta is another nation in Europe that is trying to attract  blockchain firms. Switzerland and Belarus are important countries that  are trying to be considered crypto-friendly states. 

Source : https://usethebitcoin.com/malta-attracts-cryptocurrency-and-blockchain-businesses-to-its-island/