BTSE, a Dubai-originated crypto exchange and derivatives platform, revealed that it has moved its business operations to the Britsh Virgin Islands (BVI).
The company says that since it had not seen concrete progress from Dubai regulators in actualizing real legislation, it no longer wanted to deal with the uncertainty.
Thus, in October 2019, the BTSE team formed a corporation in the British Virgin Islands, a country that has a friendly regulatory environment for BTSE’s business. Since this time, BTSE has been gradually transitioning to this new jurisdiction.
“As a cryptocurrency exchange, we continue to be agile and responsive to regulatory updates and evolve together with the global legal landscape. We do not rule out the possibility of continuing to utilize certain Dubai entities for ancillary offerings unrelated to that of a cryptocurrency exchange.”
– The BTSE Team