The blockchain paradise island warned the crypto community of a crypto trading platform that claims to have a license obtained in Malta, according to the latest crypto news reported today on a local website.
‘’Primetradingbot’’ is the name of the platform in question which claims to be running a Bitcoin-related investment scheme. The MSFA stated that this platform has a ‘’dubious nature with a high risk of loss of money’’.
The platform is not licensed in Malta according to the watchdog and it’s also not authorized by the MFSA to provide investment services or any other kind of financial services. They continued their alert to the public by saying that this platform is not in any way regulated and authorized under the Maltese law.
All of the companies and trading platforms that have a green light from Malta’s Financial Services Authority are available from the same agency and can also be checked on their official website. They cautioned all the people from Malta and abroad no to do any business or conduct transactions with this firm.
Malta is one of the places in the world which is mostly known for its proactive and transparent nature and climate. This is one of the reasons why many crypto companies relocate their headquarters there.
In July this year, Malta passed the Virtual Financial Assets Act where all practitioners that want to engage in the crypto sectors must undergo a mandatory professional education and take an exam in order to receive a crypto agent qualification.
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