BitBay Is Moving From Poland Into Malta

On Tuesday a famous Polish cryptocurrency exchange BitBay declared that it will stop its trading operations in Poland and will move to the Republic of Malta. As per BitBay, the last Polish Bank that so far proposed the exchange’s services made a “one-way decision to end cooperation” at the end of this month.

In the report has been explained, “In those circumstances the continuation of providing high quality services by BitBay exchange in Poland is no longer possible,” but did not name any banks that withdrew their business.

BitBay users will have access to their BitBay accounts in Poland until the end of today. Subscribers and users will need to open a new account when BitBay restarts its trading operations in Malta and will be able to withdraw and take their money only after September 17. The exchange will continue to use the original domain name and trademark.

As related to  “Blockchain island”, the Republic of Malta is known for its cryptocurrency environment. In September 2017, the country accepted its Blockchain task force to promote innovation and has since made legislative efforts to strengthen Malta as a blockchain and technology center.

According to the report on February 2018, the National Bank of Poland (NBP) paid PLN 91,000 ($27,000) to create anti-cryptocurrency video. The information content of the video is assaulting the legitimacy of the cryptocurrency and examined on multiform platforms like Google and Facebook. In December, the NBP started a campaign named “Beware of Cryptocurrencies” paying attention on the risk of investing in digital assets.