KyberSwap, a decentralised trading platform, has moved to the British virgin islands for regulatory reasons

Kyber Network's decentralised trading platform KyberSwap, launched in October last year, announced it was moving from Malta to The British virgin islands (BVI) in The Caribbean to avoid The imminent implementation of The fifth anti-money laundering directive (5AMLD), according to emails sent to registered users, The Block reported.

"The new rules will put too big a barrier [in terms of regulation and cost] for most traders." According to the email, KyberSwap will no longer be run by malta-based Kyber Network International Limited but by KYRD International Limited, a sister company incorporated in the British virgin islands, and there will be no change in the platform's management. Deribit, a cryptocurrency derivatives trading platform, has moved to panama for similar reasons, according to BlockBeats.

Data shows that KyberSwap is currently the second largest unmanaged trading platform.

原文链接：https://www.theblockcrypto.com/post/53352/another-crypto-firm-moving-out-of-the-eu-in-response-to-5amld-this-time-non-custodial-exchange-kyberswap

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