Nicosia, Cyprus. The Cyprus Securities and Exchange Commission (CySEC) said it identified four websites that are not operated by entities authorised to provide investment services under Cypriot law. The regulator urged investors to exercise caution before conducting transactions through the platforms.
Websites identified
CySEC said the websites deumarket.com, crowd-base.com, velorato.com and xt-blimited.com do not belong to an entity granted authorisation for the provision of investment services and/or the performance of investment activities.
Authorisation status and licensing
The regulator said the absence of authorisation means the websites are not licensed to offer investment services within or from the Republic of Cyprus.
Guidance to investors
CySEC urged the public to consult its official website to verify which entities are properly licensed to provide investment services and/or investment activities. It said that by checking the regulator’s website, investors can ascertain whether a firm has been granted the necessary authorisation to operate legally in Cyprus.
Regulatory context
CySEC said the announcement forms part of its ongoing efforts to safeguard investor protection and uphold the integrity of the investment services framework.
Will you check CySEC’s official website to verify a firm’s authorisation status before making an investment?