New Zealand's FMA Warns Investors of Unauthorized Company 10Trading
- The initial warning was issued by Italy’s CONSOB, and relayed on the FMA warning list.
New Zealand’s Financial Markets Authority (FMA) has issued an official warning on its website, urging investors to avoid trading with 10Trading.com.
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The FMA states the original source of the warning to be Italy’s National Commission for Companies and the Stock Exchange (CONSOB). CONSOB initially issued the warning, stating that the website under the domain 10Trading.com is operated by the companies, Binext Solutions srl and Binext Global Ltd. According to the warning, neither company is authorized to provide financial services within Italy.
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However, the companies have been operating the investment website without regulatory licensing, and have therefore violated the confinements set forth by governing regulators in the country.
Italy’s CONSOB has been extremely vigilant toward unauthorized brokerages and financial services companies, consistently listing new companies on its warning list. The warnings aim at protecting Italian and global investors alike. Moreover, the regulator has covered various financial companies that cover FX and CFDs brokers, Binary Options companies, and crypto firms.
The cooperative efforts of global regulators is evident, as these protective bodies assist the public in avoiding becoming victims of unlawful companies and individuals targeting people from various global regions. Beyond issuing warnings, they can enforce financial penalties, halt companies’ activities, and take additional means that could even include potential litigation.
Crypto Restrictions
As the global craze toward Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term continues, many governments have recently discussed and implemented increasing restrictions within the industry. While ICOs have been at the forefront of regulation concerns, the essence of the industry induces high-risk investment propositions with immense Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders Read this Term.
It is therefore unsurprising that governments and regulators alike have stepped up to reassess their previously lenient approach toward the crypto sphere, and to reestablish a framework that will better protect investors and their respective funds.
Among global regulators to further restrict crypto operations is CONSOB, which last year fined One Life Network a total of €2.6 million, for their role in promoting the fraudulent OneCoin cryptocurrency.
New Zealand’s Financial Markets Authority (FMA) has issued an official warning on its website, urging investors to avoid trading with 10Trading.com.
Discover credible partners and premium clients at China’s leading finance event!
The FMA states the original source of the warning to be Italy’s National Commission for Companies and the Stock Exchange (CONSOB). CONSOB initially issued the warning, stating that the website under the domain 10Trading.com is operated by the companies, Binext Solutions srl and Binext Global Ltd. According to the warning, neither company is authorized to provide financial services within Italy.
[gptAdvertisement]
However, the companies have been operating the investment website without regulatory licensing, and have therefore violated the confinements set forth by governing regulators in the country.
Italy’s CONSOB has been extremely vigilant toward unauthorized brokerages and financial services companies, consistently listing new companies on its warning list. The warnings aim at protecting Italian and global investors alike. Moreover, the regulator has covered various financial companies that cover FX and CFDs brokers, Binary Options companies, and crypto firms.
The cooperative efforts of global regulators is evident, as these protective bodies assist the public in avoiding becoming victims of unlawful companies and individuals targeting people from various global regions. Beyond issuing warnings, they can enforce financial penalties, halt companies’ activities, and take additional means that could even include potential litigation.
Crypto Restrictions
As the global craze toward Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term continues, many governments have recently discussed and implemented increasing restrictions within the industry. While ICOs have been at the forefront of regulation concerns, the essence of the industry induces high-risk investment propositions with immense Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders Read this Term.
It is therefore unsurprising that governments and regulators alike have stepped up to reassess their previously lenient approach toward the crypto sphere, and to reestablish a framework that will better protect investors and their respective funds.
Among global regulators to further restrict crypto operations is CONSOB, which last year fined One Life Network a total of €2.6 million, for their role in promoting the fraudulent OneCoin cryptocurrency.