Largest European Exchange BitBay Moves to Malta

BitBay, the Polish cryptocurrency trading platform, is changing its country of operation, citing difficulties in negations with a Polish bank which carried out financial operations for the company.

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Founded in 2014 by Sylwester Suszek, BitBay was designed as “a professional and intuitive trading platform for buying and selling Bitcoins and Litecoins.” The exchange platform was forced to leave Poland because of Polish’ Bank refusal to continue the cooperation.

 “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,” explained BitBay.

The decision to move to Malta was made after the company conducted an evaluation of existing cryptocurrency legislation around the world. The representatives of BitBay claimed to have “productive discussions” with the government of the Republic of Malta and found the overall business climate in the country suitable for the company.

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