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German regulator issues warning against GoldenCoinCrypt

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The UK Financial Conduct Authority (FCA) is currently publishing several dozen warnings against crypto ventures operating illegally per week. Most of them do not disclose any operator or jurisdiction on their website and must look like scams to any visitor. The German BaFin, on the other hand, only issues a warning against crypto scams every now and then. This is a bit strange considering the crypto scam tsunami. Recently, however, the German regulator issued a warning against GoldenCoinCrypthttps://fintelegram.com/tag/goldencoincrypt.

You can do better, BaFin! Focus on illegal crypto ventures to protect German consumers!

BaFin points out that it has not granted GoldenCoinCrypt a license to conduct banking business or provide financial services in Germany. The website does not give information on the operators or jurisdiction. However, BaFin does not supervise the company. GoldenCoinCrypt offers a trading platform for cryptocurrencies via its website. Providers of banking or financial services in Germany need a permit, BaFin says. However, some firms trade without the required permission.

CategoriesBaFin FCA

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