The biggest and most well-known cryptocurrency exchange in Poland is forced to shut its operations in Poland, as banks refused to continue any kind of relationship with the company as announced on May 29. Despite the negative news from the Polish side, Malta happily accepted BitBay to continue its operations under Malta’s crypto-friendly laws.

In the interview, BitBay representative mentioned that exchange’s business was highly dependent on local banks and when the last Polish bank declined the collaboration proposal, the exchange made a decision to find a new place of residence.

As of the changes to the users of the platform: users will be able to create a new account, once the operation in Malta will be established. The conduction of operation will be transferred to a new supplier, but all domain and trademark will remain the same.

In February Polish central bank paid 25000 USD for the production of an anti-crypto video in collaboration with Polish youtube network Gamellon.

Bitbay is currently trading in 29 various financial instruments with the total market capitalization of around 9 mln dollars.

Sources:

https://cointelegraph.com/news/bank-shutout-forces-major-polish-crypto-exchange-to-move-to-malta