BitBay moves to Malta
Malta is trying to become a European silicon valley for cryptocurrencies, where laws are crypto-friendly, and the government wants to cooperate with crypto-based companies.
ℹ Informujemy, z niezależnych od nas przyczyn postanowiliśmy o zawieszeniu działalności w Polsce. Nasza giełda będzie prowadzona przez nowego dostawcę w przyjaznej kryptowalutom jurysdykcji Republiki Malty. Konto BitBay na Malcie można utworzyć już teraz, po zalogowaniu do konta
— BitBay (@BitBayPolska) 29 maja 2018
As we can find in announcement
“Up to the end of 31, May 2018 Users will be able to use all functions of the BitBay exchange in Poland. After this date access to the account in PLN will not be possible. All other functions of the BitBay exchange in Poland will still be active. After the expiry of the notice period, that is from 18 September 2018 Users will be able only to withdraw all of the funds deposited on the account without the possibility to deposit them there once again. From 17 September 2018, the trade on the BitBay exchange in Poland will be suspended.”
The supplier will change, but the bitbay.net domain and BitBay trademark will remain the same.
Behind BitBays’ decision, there are Polish laws and the government approach to the cryptocurrencies. As we wrote earlier, the Polish government had used a YouTuber to create their first anti-crypto influencer-based campaign; now they placed a tender order of 500.000 Zloty (~$135.000) for next campaign. But not only the approach was behind the decision. To operate in Poland BitBay is required to cooperate with a Polish bank, but they said in the announcement, that [they] “undertook unilateral decision to finish the cooperation with BitBay with the effect at the end of May.”
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