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Cyprus (Courtesy: Twitter)
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Cyprus SEC Blacklists Investment and Crypto-Related Websites

Cyprus (Courtesy: Twitter)
Cyprus (Courtesy: Twitter)

The Cyprus Securities and Exchange Commission, better known as CySEC, is the financial regulatory agency of Cyprus. As an EU member state, CySEC’s financial regulations and operations comply with the European MiFID financial harmonization law.

The firm has enlisted seven Investment and Crypto-Related Websites which have been blacklisted for allegedly allegedly illegal firms offering crypto and FX trading.

The Cyprus Securities and Exchange Commission published a warning statement, which said, “The Cyprus Securities and Exchange Commission (‘CySEC’) wishes to inform investors that the following websites do not belong to an entity which has been granted an authorization for the provision of investment services and/or the performance of investment activities, as provided for in Article 5 of Law 87 (I)/2017”.

The websites which have been blacklisted includes fxg.market, 247firstinvest.com, keyoncapital.com, procloudoptions.online, cryptotradecentr.com, fxgrowcapital.com, and meritkapital.net.

CySEC urges investors to consult its website (www.cysec.gov.cy), before conducting business with investment firms, in order to ascertain the entities which are licensed to provide investment services and/or investment activities, the firm further mentioned in the website.

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.