The Malta Independent 24 October 2021, Sunday

MFSA warning on Emirate Coin Tech

Tuesday, 23 July 2019, 11:20 Last update: about 3 years ago

The Malta Financial Services Authority (“MFSA”) said today it has become aware of an entity which has an internet presence at https://emiratecointech.com . This entity purports to be an MFSA licenced investment and crypto exchange institution with a physical presence at 1000 Mahler Building (floor 4), Gustav Mahlerlaan 1025, 1082, Amsterdam, The Netherlands. The entity claims to be a “fast-growing investment and brokerage company, founded in 2013, to transform the way people invest. “ The entity also states that “it focuses on trading and mining cryptocurrencies on contract for investors, and ensuring the highest possible return on investment within manageable risk.”

The MFSA said that Emirate Coin Tech is NOT a Maltese registered Company NOR licenced or otherwise authorised by the MFSA to provide any investment, crypto currency or other financial services which are required to be licenced or otherwise authorised under Maltese law. Furthermore, information available to the MFSA suggests that https://emiratecointech.com is likely to be a scheme of dubious nature with a high risk of loss of money. The public should therefore refrain from undertaking any business or transactions with the above-mentioned entity.

The MFSA would like to remind consumers of financial services not to enter into any financial services transaction unless they have ascertained that the entity with whom the transaction is being made is authorised to provide such services by the MFSA or another reputable financial services regulator. Investors should also be extra cautious when being approached with offers of financial services via unconventional channels such as telephone calls or social media.

A list of entities licensed by the MFSA can be viewed on the official website of the MFSA at http://www.mfsa.mt/pages/licenceholders.aspx.

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