Malta Regulator: Binance does not have a license to operate in the country

The Malta Financial Services Authority (MFSA) said that Bitcoin exchange Binance did not obtain a license toactivities in the jurisdiction. This was reported on the website of the department.

“Admission of virtual financial assets fortrade and / or to offer them to the public in the country requires an MFSA license in accordance with the Law on Virtual Financial Assets (CAP 590) of 2018 ”, - the regulator explains.

Representatives of the department emphasized that they are finding out whether Binance is currently providing services without appropriate permissions.

Binance Exchange CGO Ted Lin recently said in a conversation with Decrypt:

“We have offices in Malta for retail services, there are some employees responsible for compliance, but there is no headquarters as such”

The intention of Binance to open an office in Malta has becomeknown at the beginning of 2018. In June of the same year, the exchange opened a bank account in this jurisdiction, and in September signed a memorandum of understanding with the local stock exchange in order to launch the trading of security tokens.

Soon, Changpeng Zhao published a tweet that says so far neither Binance, nor any other cryptocurrency exchange is licensed by the Maltese regulator.

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Recall that in January, due to the Fifth Directive, the EU changed Malta to the Virgin Islands Ethereum-exchange KyberSwap.