Crypto has just found a friendly island in the sun

Binance, the world's largest cryptocurrency exchange by traded value, is seeking a fresh start in the Mediterranean.

The company, founded last year in Hong Kong, is planning to open an office in Malta, said founder Zhao Changpeng in an interview from Hong Kong. Binance will soon start a "fiat-to-crypto exchange" on the European island nation and is close to securing a deal with local banks that can provide access to deposits and withdrawals, he said, without providing a timeframe.

"We are very confident we can announce a banking partnership there soon," Zhao said. "Malta is very progressive when it comes to crypto and fintech."

Regulators from China to the United States have been cracking down on cryptocurrency exchanges and businesses since last year, leaving many like Binance struggling to find a permanent base. The company had an office in Japan and was trying to get a license to operate but decided to remove its staff to avoid a clash with local regulators, Zhao said. Japan's Financial Services Agency issued a warning to the venue today for operating without approval. ...

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