New cryptocurrency exchanges have their work cut out for them. Although such a launch is exciting, there are a lot of issues to deal with as well. For Bitmora, the official launch date has been delayed, and they will launch in the US. Instead, the company will expand to Malta, following the example set by Binance.
The United States is not too cryptocurrency-friendly This has been a problematic situation for some time now. Over time, the situation has only grown worse by the look of things. Bitmora confirms dealings with US banks have been problematic first and foremost. As such, the company will ditch the United States altogether. It is a smart decision, although one that could impact their business as well.
Bitmora Turns a Negative Into a Positive
Instead of focusing on the United States, Malta becomes the new location. This European country is building up a reputation in terms of crypto-friendliness. More specifically, major exchange Binance has already expanded to this country as well in the past few weeks. Other exchanges and companies also keep a close eye on this country, for obvious reasons.
Bitmora will not launch right now, though. Instead, the company has pushed back the launch of its platform by another two weeks. The regulatory issues in the US are partially to blame for this particular development. However, it only tells part of the story. The developers simply aren’t happy with the platform in its current form.
With more features to be added, the developers want to take their time. For now, the launch date is pushed back to May 26th. There will still be a closed beta for contributors prior to this date. With the move to Malta, Bitmora will be able to enable some functionality which would remain off-limits otherwise. An interesting development for the young company.
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Author: JP Buntinx