[ad_1]
Malta has warned citizens about an unregistered cryptocurrency exchange called OriginalCrypto, which has been ordered to stop operating since December 5th.
The exchange was noted for the first time by officials in Italy, worried that it may not have the necessary license to offer authorized services and investment activities.
The platform was owned by SolutionsCM Ltd, which was the recipient of a warning from the Financial Services Authority (MFSA) of Malta.
The declaration of the MFSA states: "The National Commission for Companies and the Stock Exchange (CONSOB) ordered the following companies to cease the violation of Article 18 of Legislative Decree No. 58/1998, consisting of the provision of services and activities investment not authorized to the Italian public by SolutionsCM Ltd via the www.originalcrypto.com website. "
Malta, often dubbed "blockchain island", is setting the standard in terms of compliant blockchain practices. On Wednesday they signed a joint statement with six EU member states with a commitment to collaborate on blockchain projects.
Their positive prospects on blockchain and cryptocurrency have seen exchanges like Binance and Huobi shifting commercial operations on the island. The decision to suppress unregistered trade as OriginalCrypto will undoubtedly be considered a positive move in the cryptographic ecosystem.
