Binance is giving out money to her users

One of the largest and most recognizable digital currency platforms in the world has decided to give out one million dollars to its users. Of course, this amount is to be paid out at Binance Coin (BNB). This is in response to the attitude represented by the Maltese regulator regarding the actual residence of this digital currency exchange.

The search for the headquarters of the Binance exchange continues

Last Friday, the Malta Financial Services Authority (MFSA), the institution responsible for regulating financial entities, announced that the Binance digital currency platform is not regulated in Malta. This is clear from the fact that all activities undertaken by this entity are outside its jurisdiction under the applicable legislation.

In spite of this fact, the Malta Financial Services Authority (MFSA) continues to carry out activities aimed at verifying that the platform does not carry out operations within its own territory which could ultimately fall under its jurisdiction. In fact, all this ultimately comes down to the physical presence of the entity established by ChangPeng Zhao on its own territory. However, as you can guess, it is not that simple and obvious.

Mr. Ted Lin, Chief Growth Officer Binance, in an interview with Decrypt, assured that the Binance platform has offices in Malta. Their function is mainly related to customer service and compliance functions. However, the exchange’s headquarters are not located on the island.

It is very difficult to determine where the Binance platform is actually based. As an explanation, we will add that the company is registered in the Seychelles. Its creator, ChangPeng Zhao, in 2019, in his Twitter post, decided that the concept of the headquarters is already outdated. He sums up the situation with the statement that nothing has changed in the current Maltese reality.

The Binance Exchange thanks its community by giving out Binance Coin (BNB)

In the share just announced, the Binance platform intends to distribute 50,000 Binance Coin (BNB). Their total value at the moment is in the order of one million dollars (USD). The actions taken are to show gratitude to the stock exchange community. As you probably know, the number of users of the Binance Coin platform is not only growing, but also supports its activities. In order to receive a prize funded by Binance, you need to trade 1 Bitcoin (BTC), using of course one of the services offered by the aforementioned critical giant.

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