The renowned crypto exchange, Bittrex, has declared to move its headquarters from the blockchain island Malta to Liechtenstein. The reason for the shift remains closed. However, the exchange revealed that it will be closing Bittrex International on October 29. Following the closure in Malta, Bittrex will work under Bittrex Global, and the eligible users will be directed to it.
“Once Bittrex Global launches, eligible Bittrex International customers, including corporate accounts, will be seamlessly redirected to Bittrex Global,” stated the exchange.
Bittrex Global’s launch was firstly uncovered earlier this month when the platform declared that it will offer cryptocurrency trading, according to Liechtenstein’s Transaction Systems, based on the Blockchain Act, also called the Trustworthy Technologies Act.
Malta’s financial regulator unveiled last month that it will actively monitor the licensed cryptocurrency exchanges in the nation to counter money laundering. Interestingly, Bittrex’s decision comes just after the regulatory moves ascended. The exchange stated last week its imminent shut down in 31 countries, including Venezuela and Zimbabwe, also on October 29 owing to “regulatory uncertainty.”