BaFin to Investigate blockchains.de
- The trading platform is not supervised by BaFin.
- Blockchains.de business address is located in London, UK, as of press time.
Moreover, blockchains.de is not regulated by BaFin. The trading platform website states that the laws governing it are the Estonian ones, although its business address is located in London, United Kingdom.
“Based on the contents of the website blokchains.de, on the use of the top-level domain ‘de’ and on information and documents available to BaFin, there are grounds to suspect that the platform is being used to conduct banking business and/or to provide financial services in Germany without the required authorization. On blokchains.de, the operator of the website only refers to itself using the name Blokchains,” the authority noted.
The KWG requires authorization from companies conducting banking business in Germany or providing financial services. But, some companies do not have such authorization.
Recently, BaFin announced a formal investigation of UpbitFx Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectively relevant with real-time pricing.Depending upon where you reside, an exchange may be referred to as a bourse or a share exchange while, as a whole, exchanges are present within the majority of countries. Who is Listed on an Exchange?As trading continues to transition more to electronic exchanges, transactions become more dispersed through varying exchanges. This in turn has caused a surge in the implementation of trading algorithms and high-frequency trading applications. In order for a company to be listed on a stock exchange for example, a company must divulge information such as minimum capital requirements, audited earnings reports, and financial reports.Not all exchanges are created equally, with some outperforming other exchanges significantly. The most high-profile exchanges to date include the New York Stock Exchange (NYSE), the Tokyo Stock Exchange (TSE), the London Stock Exchange (LSE), and the Nasdaq. Outside of trading, a stock exchange may be used by companies aiming to raise capital, this is most commonly seen in the form of initial public offerings (IPOs).Exchanges can now handle other asset classes, given the rise of cryptocurrencies as a more popularized form of trading. An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectively relevant with real-time pricing.Depending upon where you reside, an exchange may be referred to as a bourse or a share exchange while, as a whole, exchanges are present within the majority of countries. Who is Listed on an Exchange?As trading continues to transition more to electronic exchanges, transactions become more dispersed through varying exchanges. This in turn has caused a surge in the implementation of trading algorithms and high-frequency trading applications. In order for a company to be listed on a stock exchange for example, a company must divulge information such as minimum capital requirements, audited earnings reports, and financial reports.Not all exchanges are created equally, with some outperforming other exchanges significantly. The most high-profile exchanges to date include the New York Stock Exchange (NYSE), the Tokyo Stock Exchange (TSE), the London Stock Exchange (LSE), and the Nasdaq. Outside of trading, a stock exchange may be used by companies aiming to raise capital, this is most commonly seen in the form of initial public offerings (IPOs).Exchanges can now handle other asset classes, given the rise of cryptocurrencies as a more popularized form of trading. Read this Term ltd. NSFX Limited and UpbitFx Exchange Ltd. have no relationship. Therefore, NSFX Limited has allegedly been the victim of identity theft. On upbitfxexchange.com, the website’s operator goes by the name UpbitFx Exchange Ltd. In certain countries, it goes by the name EM Ltd. The company’s website indicates that it has offices in the United States and Malta.
In February, BaFin issued a warning regarding crypto trading advice on social media. Telegram was mentioned as a source, even though social media channels were not directly mentioned.
BaFin’s principles can be used by any investor who wishes to use social media for investment tips.
The number of followers, likes, or positive feedback is not a reliable indicator, the report said. “They do not reflect the performance of the investment tips. It is very easy to manipulate results on social media. Positive feedback or references related to investment success stories can be fictionized and produced at the author’s request,” BaFin pointed out.
Moreover, blockchains.de is not regulated by BaFin. The trading platform website states that the laws governing it are the Estonian ones, although its business address is located in London, United Kingdom.
“Based on the contents of the website blokchains.de, on the use of the top-level domain ‘de’ and on information and documents available to BaFin, there are grounds to suspect that the platform is being used to conduct banking business and/or to provide financial services in Germany without the required authorization. On blokchains.de, the operator of the website only refers to itself using the name Blokchains,” the authority noted.
The KWG requires authorization from companies conducting banking business in Germany or providing financial services. But, some companies do not have such authorization.
Recently, BaFin announced a formal investigation of UpbitFx Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectively relevant with real-time pricing.Depending upon where you reside, an exchange may be referred to as a bourse or a share exchange while, as a whole, exchanges are present within the majority of countries. Who is Listed on an Exchange?As trading continues to transition more to electronic exchanges, transactions become more dispersed through varying exchanges. This in turn has caused a surge in the implementation of trading algorithms and high-frequency trading applications. In order for a company to be listed on a stock exchange for example, a company must divulge information such as minimum capital requirements, audited earnings reports, and financial reports.Not all exchanges are created equally, with some outperforming other exchanges significantly. The most high-profile exchanges to date include the New York Stock Exchange (NYSE), the Tokyo Stock Exchange (TSE), the London Stock Exchange (LSE), and the Nasdaq. Outside of trading, a stock exchange may be used by companies aiming to raise capital, this is most commonly seen in the form of initial public offerings (IPOs).Exchanges can now handle other asset classes, given the rise of cryptocurrencies as a more popularized form of trading. An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectively relevant with real-time pricing.Depending upon where you reside, an exchange may be referred to as a bourse or a share exchange while, as a whole, exchanges are present within the majority of countries. Who is Listed on an Exchange?As trading continues to transition more to electronic exchanges, transactions become more dispersed through varying exchanges. This in turn has caused a surge in the implementation of trading algorithms and high-frequency trading applications. In order for a company to be listed on a stock exchange for example, a company must divulge information such as minimum capital requirements, audited earnings reports, and financial reports.Not all exchanges are created equally, with some outperforming other exchanges significantly. The most high-profile exchanges to date include the New York Stock Exchange (NYSE), the Tokyo Stock Exchange (TSE), the London Stock Exchange (LSE), and the Nasdaq. Outside of trading, a stock exchange may be used by companies aiming to raise capital, this is most commonly seen in the form of initial public offerings (IPOs).Exchanges can now handle other asset classes, given the rise of cryptocurrencies as a more popularized form of trading. Read this Term ltd. NSFX Limited and UpbitFx Exchange Ltd. have no relationship. Therefore, NSFX Limited has allegedly been the victim of identity theft. On upbitfxexchange.com, the website’s operator goes by the name UpbitFx Exchange Ltd. In certain countries, it goes by the name EM Ltd. The company’s website indicates that it has offices in the United States and Malta.
In February, BaFin issued a warning regarding crypto trading advice on social media. Telegram was mentioned as a source, even though social media channels were not directly mentioned.
BaFin’s principles can be used by any investor who wishes to use social media for investment tips.
The number of followers, likes, or positive feedback is not a reliable indicator, the report said. “They do not reflect the performance of the investment tips. It is very easy to manipulate results on social media. Positive feedback or references related to investment success stories can be fictionized and produced at the author’s request,” BaFin pointed out.