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As the United States celebrated its Independence Day on July 4th, several jurisdictions around the world, including South Korea, Bermuda and Malta, passed legislation to support crypto assets and virtual currencies. Of these, South Korea’s appears the most detailed by providing a classification scheme as a framework for regulation.
“Welcome to #Malta @binance,” Joseph Muscat, the country’s prime minister, tweeted on Friday. “We We aim to be the global trailblazers in the regulation of blockchain-based businesses.”. Binance, one of the world’s largest cryptoasset exchanges by volume, announced this past week that it moved its headquarters from Hong Kong to Malta.
While things haven’t always been this way, it’s commonly understood pretty globally these days that in order to grow a successful business, it’s advantageous to build a diverse workforce who can bring their own ideas and innovations to the table. The USA followed closely behind at 25%, with the UK and Malta jointly after that at 19.04%.
Unfortunately for the Valley (and North America in general), a few regions have embraced this approach with cryptocurrencies and we are seeing more and more crypto companies coming out of the UK, Malta, Singapore, Hong Kong and other jurisdictions that are more friendly towards crypto than the US or Canada are. .
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