Quote:
Zhao’s reputation has been strong enough to earn at least one government’s endorsement. On March 23 the Prime Minister of Malta, which is trying to position itself as a cryptocurrency and blockchain hub for the European Union, welcomed the exchange via Twitter after Bloomberg News reported that Binance was planning to set up operations on the island nation.Zhao, who has consulted Malta’s government on cryptocurrency legislation, said in an interview that he’ll soon set up a “fiat-to-crypto” trading platform in the country and that he’s close to securing a relationship with local banks.That could prove to be an important milestone for Binance, but it’s unlikely to shield the company from growing regulatory scrutiny in the world’s biggest virtual currency hubs.