Published on May 16th, 2018 | by bitcoin0
Co-Founder of Binance Denies Company’s Plans to build a Blockchain Country on a Private Island
Co-founder of Binance crypto exchange He Yi has dismissed the sci-fi-esque claims of a Chinese fintech media platform that his company has hatched a so-called “Genesis Plan.” The plan was to build Binance’s own blockchain-powered country on a private island, QQ News reports Wednesday, May 16.
The fintech media outlet, ‘Yibencaijing,’ reportedly a reputable platform, cited “insider sources familiar with the matter,” to corroborate its story.
The sources allege that the company has already “bought an island” and has exciting plans to trial unprecedented blockchain applications in the crypto paradisal kingdom, where cryptocurrencies would be legal tender.
Last month, Bermuda’s Minister of Finance signed a memorandum of understanding (MOU) with Binance, which reportedly plans to develop a “global compliance base” there.
It is comfortable and logical, much like the Bermuda’s Virtual Currency Business Act that was passed yesterday.