Home / Crypto Currency / OKex to Open Office in Malta, the Blockchain Island

OKex to Open Office in Malta, the Blockchain Island

Malta has made the headlines quite often for its crypto-friendly environment which has made it a blockchain hub in Europe. OKex, one of the largest exchanges in the world, with a daily transaction volume of over $1 billion, is the latest crypto company to open offices in the small island nation that has come to be fondly referred to as “the blockchain island”. In a statement, the Chinese exchange says it is confident in the Maltese government’s approach and wants to make Malta its foundation for further growth.

Shared Values Attracted OKex

The Maltese government shares the same values as OKex, and this was one of the things that attracted the exchange to the island, according to OKex’s CEO, Chris Lee.

We look forward to working with the Malta government as it is forward thinking and shares many of our same values: the most important of which are protection of traders and the general public, compliance with Anti Money Laundering and Know Your Customer standards, and recognition of the innovation and importance of continued development in the Blockchain ecosystem.

OKex’s Chief Risk Officer and Head of Government Relations, Tim Byun, recognizes the need for the government and the blockchain community to work together to promote the growth of the industry, which is still in its formative years.

Malta’s Virtual Financial Asset Act is a solid foundation for the industry and the government to work together in fostering the nascent blockchain/digital asset industry. More specifically, Malta’s sound risk-based approach will help cultivate a responsible, compliant, and healthy ecosystem.

OKex also promises to be actively involved in the blockchain and cryptocurrency ecosystem in Malta, which will entail participating in the DLT Data Conference which will be held in October and which is sponsored by the Maltese government.

The Maltese Prime Minister, Joseph Muscat, welcomed OKex into the Maltese blockchain community via Twitter.

“Malta is fast becoming the jurisdiction of choice for Distributed Ledger Technology companies in the European Union and globally,” read his tweet.

Malta Keeps Winning

OKex is just the latest in a group of blockchain and crypto companies that are finding a safe and welcoming haven in Malta. Earlier this year, Binance, another leading global exchange which was also founded in China, announced that it would be opening offices in Malta to take advantage of the enabling environment and also in light of strict regulations in China.

Led by the futuristic Joseph Muscat, the Maltese government has continuously formulated laws that create a conducive environment for the blockchain community. One of its initiatives was the Malta Digital Innovation Authority, which will work to bring certainty in regards to the blockchain and cryptocurrency community in the country.

Malta is also one of the 22 European nations that were signatories to a declaration aiming to establish a European Blockchain Partnership. The partnership will, among other things, foster cooperation among member states to exchange blockchain-related information and experience, as well as to prepare for the EU Digital Single Market, which will benefit both the private and public sectors.

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Bitcoin Millionaire Airdrops Millions of Dollars in Hong Kong

The Bitcoin industry has allowed wealthy individuals to do some very unusual things. In most cases however, those developments will not make any media headlines. The literal fiat currency airdrop executed by Wong Ching Kit, a Bitcoin millionaire, will raise a lot of questions. It may be a positive sign for the struggling industry as well. A Fiat Currency Airdrop to Promote Bitcoin Those who invested in Bitcoin at a very early stage have made millions over and over again over the past few years. Especially if they managed to hold onto their BTC holdings until the all-time high of $19,500 was reached in late 2017. Whether or not Wong Ching Kit sold his holdings prior to that date will always remain in question. The end result is how this 24-year-old is a Bitcoin millionaire residing in Hong Kong. Over the years, he has amassed a significant portfolio and associated value accordingly. During these troublesome times for Bitcoin and other currencies, he decided to airdrop some money in the real world. Although airdrops are nothing new in the world of cryptocurrencies, they usually involve digital tokens and assets. For Wong Ching Kit, he decided to distribute over 100 million Hong Kong Dollar this week. That is worth at least $13m, which was given away to random people. Chinese 24 year old Bitcoin Millionaire Wong ching kit 黄鉦杰 AKA bi shao ye 币少爷 (Mr coin ) throws 100’s of millions of HKD from the roof top. He said “he feels as if he is god and he is responsible to teach the world about bitcoin.” Is this a sign of a bullrun incoming or ?! pic.twitter.com/IfgKykB0ME — Mia Tam (@_blockandchain_) December 16, 2018 To make this cash airdrop successful, Wong Ching Kit decided to throw the money off a rooftop in Hong Kong. During this event, he also proclaimed to “feel like a god” and “being responsible for teaching the world about Bitcoin”. Two very serious claims, although it seems the latter one may be interpreted in many different ways. Unfortunately, he was also later arrested when he was heading back in his Lamborghini. Police arrested him for causing a disorder in a public place. The main question is what this person aims to achieve by giving away millions of HKD for no apparent reason. It can be seen as a sign of how investing in Bitcoin will always be a good option to make money down the line. One could also say his youthful age simply got the best of his common sense and he acted on a whim. Various images of the stash of money being dropped from the sky have surfaced on Twitter ever since. It is something that makes many people wishful they were part of it. A cash airdrop doesn’t happen all that often, especially not for such large amounts. Even so, this person can seemingly pare the money without losing sleep over it. Giving something back to the rest of the world is a noble gesture, though one that will always be criticized. For the Bitcoin industry, this may not necessarily be the signal most people are looking for. There will always be those who claim this person should just reinvest the money and keep the price afloat. Even so, people are entitled to use their money as they see fit. If they want to make it rain Hong Kong Dollars, that is their prerogative to do at any given time. A very remarkable airdrop first and foremost and one that will be remembered for some time to come. The post Bitcoin Millionaire Airdrops Millions of Dollars in Hong Kong appeared first on NullTX.

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