'Blockchain Island' Malta Warns Of Unregulated Crypto Broker

Although several top crypto exchanges have made Malta a central Hub Hub A hub as its name suggests describes the center of activity or a focal point. In terms of finance, the term hub can refer to Hub and Spoke Trading or a liquidity hub. However, the terms are not interchangeable, but they do overlap. Hub and Spoke trading refer to a network that posts bids and offers for an asset and therefore creates a real market. For example, Hub and Spoke trading allow traders to see the other submissions and offers from other traders on the platform. This is a popular method A hub as its name suggests describes the center of activity or a focal point. In terms of finance, the term hub can refer to Hub and Spoke Trading or a liquidity hub. However, the terms are not interchangeable, but they do overlap. Hub and Spoke trading refer to a network that posts bids and offers for an asset and therefore creates a real market. For example, Hub and Spoke trading allow traders to see the other submissions and offers from other traders on the platform. This is a popular method Read this Term of their operations, the tiny European nation’s regulators continue their effort to police the rampant non-compliant schemes which operate in its zone.

The financial markets watchdog in Malta, Malta Financial Services Authority (MFSA), on Wednesday issued a warning against an unauthorized broker, called Originalcrypto, that was previously flagged by Italy’s watchdog (CONSOB).

SolutionsCM Ltd, which operates via the website www.originalcrypto.com, runs a cryptocurrency brokerage service and solicits clients to trade on its platform. Though it has not made any mention of holding a license with the MFSA on its website, the warning from the MFSA could mean that the firm is directly soliciting clients with such false claims.

The blacklisted brand was a recent discovery made by the Italian regulator and shared by MFSA. Both MFSA and CONSOB issue joint warning against unauthorized providers and advise investors to avoid any contact with the alleged entities. They also advise the public to visit their websites to check the list of authorized firms before making any investment decisions.

“Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term Island”

Malta, the European Union’s tiniest member, has recently earned the name “Blockchain Island,” claiming to be the first jurisdiction in the world to adopt blockchain regulations. The Mediterranean archipelago while aiming to boost its fortunes, has already attracted the two largest crypto exchanges, Binance and OKEx, and most recently American cryptocurrency exchange Bittrex, now opening offices in the rising crypto hub.

Earlier this year, the Maltese Parliament passed a law setting the framework for blockchain, cryptocurrency, and digital assets, becoming one of the world’s friendliest jurisdictions for a sector that’s caused concern among other regulators. The nation also hopes that this will serve to clean up its system and discourage scam entities from registering in Malta.

At the same time, the MFSA tightened margin requirements and increased capital requirements on FX and CFDs for licensed firms. This was an attempt by the MFSA to match other global regulatory bodies as far as regulations and requirements are concerned.