NEW-ZEALAND

The licence was suspended after its Canadian parent placed it into voluntary administration.

The court classified crypto as “property.”

The platform resembles classic get-rich-quick scams.

The regulator also flagged a further six entities for their AML practices.

The exchange is aiming to adopt a new regulatory operating and governance model.

Trade99 is withholding client funds, the regulator warned.

The entity claims to be authorized in the country, when, in fact, it is not.

The High Court ruled in the regulator’s favor to de-register FXBTG from the FSPR.

Dang Kang International Group and Profitix and Enigma GRC Limited were the subjects of the warnings.

Hong Kong’s SFC and Austria’s FMA has also warned against the entity.

The New Zealand regulator said the licence was suspended due to “material breaches”.

Kelvin Clive Wood scammed more than $7 million from his clients.

52-year-old Maher provided foreign exchange services through Forex Brokers Limited.

The regulator states the entity is not associated with the New Zealand registered company Fern Group NZ Limited.

The entity claims to be a full-service financial broker based in Indonesia.

Russell Maher, the sole director of Forex Brokers Limited, entered no plea to fraud charges brought by the agency.

The exchange’s liability to its customers for their deposits is still unknown.

The man managed to solicit almost NZ$100,000 from consumers under the scheme, the FMA said.

The trouble for the crypto exchange started after a $16 million hack in mid-January.

The launch of the app is the brokerage firm’s first step into the mobile app scene.

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