Polish Crypto Exchange, BitBay, Will Move to Malta Due to Bank Shutout

Polish-Crypto-Exchange,-BitBay,-Will-Move-to-Malta-Due-to-bank-shutout

The largest cryptocurrency exchange in Poland, BitBay, has decided to shut down their activities within the country as the banks will no longer cooperate with the exchange. This reported on their website May 29.

The exchange will be moving to the Republic of Malta where laws are much more crypto friendly. The Polish government currently recognizes cryptocurrency mining and trading however their overall stance has become more critical in recent months.

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BitBay plans to give users a notice period of one month which will expire on September 17. After May 31, user accounts will no longer be able to access the exchange in the Polish language however the functions of the exchange will be active. After September 17 users will only be able to withdraw funds. After that date, all trading activities on the exchange will be inoperable.

Once BitBay resumes operations in Malta, users will be able to create new accounts at that time. The domain name and trademark will stay the same.

BitBay currently trades 29 different cryptocurrencies with a market capitalization of $9,270,725.

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