According to the authorities, www.askcurrency.org, www.findcurrency.org, www.arbitragecurrency.org, and www.etrustcoin.com have not been licensed or authorized by the GFSC — nor do they have an application pending for authorization.
The Gibraltar financial watchdog also notes that such websites are displaying the GFSC logo, which has been applied “without the consent of the GFSC.”
Alleged crypto sites are also not in an “initial phase” of regulation
The crypto sites mentioned by the warnings could not even be in the initial phase of the GFSC license award process. Such businesses have to demonstrate that they possess the financial, technological, and anti-money laundering control resources to prove their eligibility.
The GFSC has a special section on the watchdog’s official website which allows people to check if companies they are doing business with are actually regulated under Gibraltar law.
Without approval, the watchdog ensures that the aforementioned crypto sites should not be displaying the GFSC’s logo within their website. They note that apart from violating the regulations, these companies are misleading people by creating a false impression that they are licensed in Gibraltar.
Gibraltar and crypto companies
Gibraltar did previously grant a number of licenses to crypto-related sites, allowing them to operate under the country’s legislation.