Chinese exchange OKex will open a branch in Malta after Binance

It seems that the efforts of Malta in positioning itself as the most user-friendly jurisdiction for international cryptocurrency companies within the EU began to pay off. After the end of last month, the exchange Binance transferred all operations to Malta, is now Okex, which appeared after the closing of the China exchange OKcoin to have followed her example.

Okex, based in Hong Kong, a Chinese cryptocurrency exchange, on Thursday announced that it plans the expansion and opening of a Malta company. Prime Minister Joseph Muscat (Joseph Muscat), said:

«We welcome Okex, the leading exchange for digital currency in our space, growing the blockchain. Malta are increasingly choosing European and international companies related to the technology of distributed registry».

Chris Lee (Chris Lee), CEO OKEx, said:

«We look forward to the opportunity to work with the government of Malta, as it is far-sighted and shares many of our values, most important of which are the protection of traders and the General public, compliance with AML and KYC rules, recognition of innovation and the importance of the further development of the blockchain».

Unlike other regions, Malta offers cryptocurrency companies legal environment in which the government not only open for business, but also actively seeking cooperation with him. For example, before deciding to open a branch, the user Okex was able to meet with members of the Maltese government and heads of regulatory bodies. This allowed them to understand the legislative and regulatory plans, comment on them and start an open dialogue, said representatives of the exchange.

Tim Byung (Tim Byun), the chief risk officer and head of the Department for relations with state authorities Okex, commented:

«The law about the virtual financial assets of Malta as a solid Foundation for industry development and collaboration of the government and companies to promote the technology of blockchain and digital assets. The approach of Malta, based on a conscious risk assessment will help to create a responsible and healthy environment, working in compliance with the laws.»

In March of this year, the exchange Binance announced that moves all its operations to Malta, as well as gaining 200 new employees to work in the country. Currently Okex also creates a company in Malta in accordance with the upcoming implementation of the regulation and will apply for licensing when new rules come into force. If and when the company will receive such a license, it plans to fully staff the staff of workers in Malta, including the senior management team and office staff on customer service.

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