Malta: MFSA Says Binance Exchange Not Authorized to Operate in Malta; CZ Responds | BTCMANAGER
Bitcoin, Blockchain & Cryptocurrency News
In an announcement dated February 21, 2020, Malta’s financial regulator, the Malta Financial Services Authority (MFSA) stated that it has never approved major cryptocurrency exchange platform Binance to operate in the island nation.
Binance Not Authorized by the MFSA
In a startling announcement on Friday, Maltese financial watchdog MFSA announced that it had never authorized digital currency exchange Binance to operate from the country. The watchdog specifically stated that Binance stating that it’s a “Malta-based cryptocurrency” company is is factually false and that the exchange is not subject to regulatory oversight by the MFSA.
The announcement reads in part:
“Following a report in a section of the media referring to Binance as a ‘Malta-based cryptocurrency’ company, the Malta Financial Services Authority (MFSA) reiterates that Binance is not authorized by the MFSA to operate in the crypto currency sphere and is therefore not subject to regulatory oversight by the MFSA.”
The regulator, however, further added that it is assessing whether any of the business activities of Binance in Malta does not fall within the scope of regulatory oversight on the MFSA.
Notably, for a business entity to issue, sell, financial assets to the public in and from Malta, it requires an MFSA license in terms of the Maltese Virtual Financial Assets Act of 2018.