RATE Group | Malta, Italy Issue Joint Warning Over Potential Unlicensed Cryptocurrency Exchange
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Malta, Italy Issue Joint Warning Over Potential Unlicensed Cryptocurrency Exchange

06 Dec Malta, Italy Issue Joint Warning Over Potential Unlicensed Cryptocurrency Exchange

Posted at 15:18h in Cryptocurrency News by

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Malta has warned citizens about an unlicensed cryptocurrency exchange serving its domestic market. Regulators ordered the platform to stop operating in a notice Dec. 5.

The offending platform, OriginalCrypto, had first come to the attention of Italian officials concerned it may not have the required license to offer authorized “investment services and activities.”

The platform’s owner, SolutionsCM Ltd., has now come under scrutiny from both countries, with Malta’s Financial Services Authority (MFSA) sharing the warning from Italy:

“The Commissione Nazionale per le Società e la Borsa (CONSOB) has ordered the following companies to cease infringement of art. 18 of the Italian Legislative Decree No. 58/1998, consisting of the provision of unauthorised investment services and activities to the Italian public performed by SolutionsCM Ltd. via the www.originalcrypto.com website.”

As Cointelegraph frequently reports, Malta has sought to become one of the world’s most permissive…

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