While some political and corporate leaders have been eager to invest in and adopt cryptocurrencies, others are entirely hostile. Turkish President Tayyip Erdogan recently declared outright war on the Bitcoin network. President Erdoğan: "We Are At War" President Erdoğan expressed his opposition to Bitcoin in a meeting with Turkish students this Saturday. The event comes after one of them asked if the country's central bank would adopt cryptocurrencies. Erdogan responded with total rejection: "We have absolutely no intention of embracing cryptocurrencies. On the…
On the 25th March 2020, the Malta Financial Services Authority warned against Foxtrades and Coinmalex crypto exchanges. The two crypto exchanges claim to be licensed by the nation, but the MFSA denied the claims.
For instance, Foxtrades indicates that the MFSA licensed it as a category three service provider on its website. Nevertheless, the MFSA wished to alert the public that Foxtrades is not a Maltese registered company, and urged the public from undertaking any business or transaction with the company.
Similarly, the MFSA warned against Coinmalex, which claims to operate from an address in Malta. However, the regulator advised the public to refrain from undertaking any business or transactions with the company, since Coinmalex is a scam.
MFSA Cautions the Public
The Malta financial regulator urged the public not to enter into any financial services transaction unless they ascertain that the company has a license to operate.
Additionally, it advised investors to be extra cautious when approached with offers of financial services through unconventional channels like telephone calls or social media. The regulator further urged investors to visit its website for a list of licensed and regulated companies.