Malta's financial regulator has issued warnings against two crypt currency exchanges whose operators falsely claimed to be licensed to operate in the country.
The Malta Financial Services Authority (MFSA) has issued warnings in relation to two crypt currency exchanges, Coinmalex and Crypto Foxtrades. Both organizations falsely claimed to be licensed in Malta and also registered in the country.
The Coinmalex website published a document which was allegedly taken from the "Malta Enterprise Register". The UK coat of arms is visible on the document form, but Malta stopped using it when it gained independence from Britain in 1964.
Crypto Foxtrades website also claims that the company is "licensed and regulated as a Category 3 investment services provider by the Malta Financial Services Authority". The MFSA claims, however, that Crypto Foxtrades is not licensed.
"The MFSA wishes to warn the public, both in Malta and abroad, that Crypto Foxtrades is not registered in Malta, licensed or otherwise authorized by the MFSA to provide exchange or other financial services that require a licence or other regulatory approval under Maltese law", the regulator states.
The MFSA has issued a similar statement for Coinmalex. Recall that a month ago the regulator announced that the Binance Exchange did not have a license in Malta. At that time, the MFSA claimed that Binance did not receive permission to engage in cryptovoltaic activity, so the exchange is not subject to regulatory control by this body.
Comments
Post a Comment