Polands Bitbay announces relocation to Malta

Posted 31 May, 2018

Bitbay, the major crypto trading platform in Poland, has decided to relocate its business to Malta after Polish banks refused to cooperate with the exchange. Technically, there will be no changes – its domain and brand name will remain the same (bitbay.net, Bitbay).

"The activity of the BitBay exchange in Poland requires cooperation with Polish bank. Unfortunately, the last Polish bank ready to provide bank services undertook unilateral decision to finish the cooperation with BitBay with the effect at the end of May. In those circumstances the continuation of providing high-quality services by BitBay exchange in Poland is no longer possible," commented the company representative. 

As the company said, they have chosen Malta seeing a favourable environment for further business development given a position of local authorities towards the crypto segment.

According to the official statement,

"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."

For reference, earlier China's exchange Binance also expressed intentions to move to Malta.

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31 May, 2018 11:57

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Cryptocurrency considered as asset with possible confiscation - South Korea Supreme Court

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