MFSA Reminds Binance Is Not Authorized to Operate in Malta

The Malta Financial Services Authority (MFSA) has published on Thursday a reminder of a public statement that it issued in February 2020 about the unlicensed status of Binance, a major cryptocurrency exchange, to operate in the country. According to the press release, the reiteration of the statement comes in the wake of similar warnings released by other regulators globally and an “increase in complaints” relating to dealing with unauthorized companies, such as the exchange.

“Following the issuance of various recent warnings by competent authorities of other jurisdictions, along with an increase in complaints relating to dealing with unlicensed entities, including Binance, the Authority wishes to reiterate that Binance is not licensed nor authorized by the MFSA to conduct any VFA related activities in or from Malta and therefore falls outside the MFSA’s regulatory oversight,” the authority noted. On February 21, 2020, the MFSA stated that Binance is not authorized by the watchdog to operate in the digital assets sector in Malta.

Furthermore, the authority quoted in the public reminder its “Guidance Note to the Public Regarding Cryptocurrency Scams,” asking consumers to read it to avoid falling victims to crypto-related scams. “Consumers should not enter into any transactions unless they have ascertained that the entity with whom the transaction is being made is authorized to provide such services by the MFSA or another reputable financial services regulator,” the MFSA warned.

Suggested articles

PayRetailers Continues its Strong Growth in 2021Go to article >>

Regulatory Tussles Globally

Binance has been making the headlines in the last weeks due to its regulatory troubles across the world. Early in July, Thailand’s Securities and Exchange Commission (SEC) filed a criminal complaint against the cryptocurrency exchange for illegally offering services in the country. In addition, other countries such as Singapore, South Korea, Poland, and the Cayman Islands have also issued warnings on the current unregulated status of the exchange in their jurisdictions.

In June, Finance Magnates reported that the Financial Conduct Authority (FCA) banned Binance from all regulated activities in the UK.

Leave a Reply

Your email address will not be published. Required fields are marked *

Share:

Share on telegram
Share on facebook
Share on twitter
Share on linkedin
Share on whatsapp

Related Posts

bitcoin
Bitcoin (BTC) $ 51,512.80
ethereum
Ethereum (ETH) $ 2,973.78
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 378.69
solana
Solana (SOL) $ 104.17
xrp
XRP (XRP) $ 0.541601
staked-ether
Lido Staked Ether (STETH) $ 2,974.40
usd-coin
USDC (USDC) $ 1.00
cardano
Cardano (ADA) $ 0.590804
avalanche-2
Avalanche (AVAX) $ 37.11
tron
TRON (TRX) $ 0.139532
dogecoin
Dogecoin (DOGE) $ 0.084586
chainlink
Chainlink (LINK) $ 18.33
polkadot
Polkadot (DOT) $ 7.58
matic-network
Polygon (MATIC) $ 0.962640
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 51,525.81
the-open-network
Toncoin (TON) $ 2.08
internet-computer
Internet Computer (ICP) $ 12.90
shiba-inu
Shiba Inu (SHIB) $ 0.000010
uniswap
Uniswap (UNI) $ 7.40
litecoin
Litecoin (LTC) $ 69.34
bitcoin-cash
Bitcoin Cash (BCH) $ 261.56
dai
Dai (DAI) $ 1.00
immutable-x
Immutable (IMX) $ 3.33
filecoin
Filecoin (FIL) $ 8.17
leo-token
LEO Token (LEO) $ 4.15
kaspa
Kaspa (KAS) $ 0.169823
hedera-hashgraph
Hedera (HBAR) $ 0.114379
bittensor
Bittensor (TAO) $ 604.92
cosmos
Cosmos Hub (ATOM) $ 9.86
blockstack
Stacks (STX) $ 2.58
ethereum-classic
Ethereum Classic (ETC) $ 25.87
optimism
Optimism (OP) $ 3.65
aptos
Aptos (APT) $ 9.28
near
NEAR Protocol (NEAR) $ 3.22
stellar
Stellar (XLM) $ 0.115565
vechain
VeChain (VET) $ 0.044437
first-digital-usd
First Digital USD (FDUSD) $ 1.01
injective-protocol
Injective (INJ) $ 35.04
okb
OKB (OKB) $ 51.14
render-token
Render (RNDR) $ 7.58
celestia
Celestia (TIA) $ 17.15
lido-dao
Lido DAO (LDO) $ 3.02
the-graph
The Graph (GRT) $ 0.285264
mantle
Mantle (MNT) $ 0.768320
crypto-com-chain
Cronos (CRO) $ 0.092055
arbitrum
Arbitrum (ARB) $ 1.84
monero
Monero (XMR) $ 125.05
sei-network
Sei (SEI) $ 0.839848
sui
Sui (SUI) $ 1.69