The European bitcoin-exchange BitBay decided to turn down activities in Poland and move to Malta, which is known for its positive attitude to the cryptocurrency industry.

The company spent several months to select new jurisdiction in the European Union. The final decision was made after negotiations with the Government of Malta.

BitBay's activities in Poland required cooperation with local banks. However, recently the last Polish bank took a unilateral decision to stop working with the cryptocurrency exchange at the end of May. Thus, it will become impossible for BitBay customers to deposit or withdrawal fiat money. As a result, BitBay announced its decision to shut down operations.

Until 31 May, customers will be able to fully use all BitBay servicies in Poland. Starting from June, BitBay will not be able to offer deposit services in Polish zloty. All other services will still work. On 17 September, the exchange will cease all its operations in Poland. Starting from 18 September, users will only be allowed to withdraw funds from their accounts without the possibility to deposit funds.

Currently, the daily trading volume on BitBay is $6.29 million. The exchange offers the most popular trading pairs, such as bitcoin, Ethereum, Lisk, Dash, Ripple, Bitcoin Cash, Bitcoin Gold, etc.

Earlier, the largest world cryptocurrency exchange Binance announced its decision to move its headquarters to Malta.