Gibraltar’s financial regulator issues warning against four crypto sites

The Gibraltar Financial Services Commission has issued warnings against four crypto sites. 
The sites claimed to have an alleged license to operate in the region. 
The authorities clarified that the sites have not obtained a license and aren’t authorized by the GFSC.

The Gibraltar Financial Services Commission (GFSC) recently issued a warning against four crypto websites that claimed to have an alleged license to operate in the region. The authorities clarified that www.askcurrency.org, www.findcurrency.org, www.arbitragecurrency.org and www.etrustcoin.com have not obtained a license and aren’t authorized by the GFSC. 

The financial watchdog said that such websites are misleading users by displaying the GFSC logo “without the consent of the GFSC.” These four sites do not have any applications pending and they are not even in the initial stage of Gibraltar’s licensing process. The regulator said that businesses must prove that they have the required financial, technological and anti-money laundering (AML) measures to be eligible for a license.

The GFSC has a section on its website, which allows individuals to check if the firms they’re doing business with are regulated under Gibraltar law. The regulator made it clear that the four sites in question should not be displaying the GFSC’s logo on their website without its approval.