Malta Gives Binance a Present
I have been one of the early promoters of Binance up here, since i saw that what they are doing is amazing. If you dont have account there - make it, no ID needed. Everyone allowed. CHECK HERE.
Didnt take long and they became one of top volume cryptocurrency exchanges in the world. For today top1 with Uobi (also initially from China) as second.
With problems in China with crypto Malta decided to step the game up and get Binance (and welcome other exchanges) with good tax laws to their place.Official tweet of their prime minister.
And of course Binance made it and got a present for switching there today.
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Big news, didn't get in early but I do have some Binance coins.
Why does binnance need a coin?
Details here --> https://www.binance.com/resources/ico/Binance_WhitePaper_en.pdf
Still unclear. It suggests there is no point to the coin but it could be used as an asset in the future if the exchange becomes decentralised. It looks far more likely that this is just another ICO to generate funds with no real value to the token.
For sure, they have done it as a way to raise capital more than anything. Not a bad thing
What I am really wondering about is Malta is not an isolated from the General laws governing the EU. If EU decides something all members must go and Malta will be part of this. So to say it’s not Virgin Islands or independent offshore heaven. So why people feel so secured about Malta? Maybe I am missing something, and would be glad to know.
No reply ?
But in that case, what is the point in investing? How do you see a return on your investment? That is why many ICOs are not worth investing in as there is no plan to return profits to investors.
I guess in the same way Berkshire Hathaway doesn't pay dividends back to investors.
But Berkshire invests in companies that pay dividends that grow the share price. As well as in companies that are expected to grow. Berkshire owns actual companies, debt etc. Owning these tokens does not mean you own the company, they are not shares, they have no real reason to appreciate apart from pure speculation.
Binance need a fiat exchange partner badly . This will ensure their top notch liquidity and further progression into crypto businesses around the world. CZ is a total gem.
Binance has a bright future indeed!! Upvoted!
Great news! I really respect Malta's approach.
While big economies scramble to get their policies together, this could be the chance for smaller countries to step in and get ahead of the curve for once. GO Malta!
@kingscrown I theymade the best decision to have moved to Malta. Binance is also my number one crypto exchange because of their flexibility and UI design, easy to navigate.
EU should ban Malta's politics on taxes. It's not fair to other countries. So you take what you need from EU, and what you dont, like just leave it be.
You can't blame Malta, the smaller EU countries are out voted when the larger countries want their way. Its only a matter of time till they stop Malta's tax policies, and who will benefit the larger ones.
you have a point there
Binance is pushing for USD trading pairs for all coins, which will give a massive impulse to the altcoin market I think. But I also think that would eliminate Bitcoin as the main coin all other coins are evaluated against... Exiting times ahead... As always: thanks for the heads-up @kingscrown!
Great article, thanks for sharing. I've smashed the upvote button for you!
Will be interesting to see if this brings more crypto businesses to Malta.
If you are looking to get hold of some crypto without investing or mining, look into https://www.crowdholding.com. They are a co-creation platform were you get rewarded for giving feedback to crypto startups on the platform. You can earn Crowdholding's token as well as DeepOnion, ITT, Smartcash and many other ERC-20 tokens.
Binance coin is doing wonder in crypto market. Already capture more than 2% market share. Malta government is showing good jestire by making good laws to regularize Binance. Their effort is laudable. It should be the offer of any country to regularize cryptos by imposing sound and good laws. Thanks for sharing @kingscrown