IFSC warns against cryptocurrency exchange Alcurex as it has no license from the regulator. Following the warning, the regulator asks the firm to cease its operations. Is your broker reliable?
8 December, AtoZForex – Belize International Financial Services Commission IFSC warns against cryptocurrency exchange Alcurex Ltd. The IFSC is a self-regulatory authority that oversees the Belize non-banking sector. Additionally, the watchdog issues license to international financial services providers.
IFSC warns against cryptocurrency exchange
IFSC mentions that the firm operates through the website https://alcurex.com/#LTC-BTC. Additionally, the watchdog states that the company does not have the license by the International Financial Services Commission. IFSC stated that Alcurex Ltd. is an International Business Company. Also, the regulator notes that the company’s office address is at 24.5 Old Northern Highway, Boston Village, Belize District, Belize, C.A.
Moreover, the entity states on its website that it has a Business ID in Finland and in Belize. Also, Alcurex Ltd. claims that it can provide trading services on multiple exchanges from a single account with no limit on a number of funds a trader have available.
The watchdog states that the entity is not licensed by the International Financial Services Commission or any other authority in Belize. Additionally, IFSC mentions that Alcurex Ltd. has no authority for engaging in an exchange of online cryptocurrency. The International Financial Services Commission orders Alcurex Ltd. to cease and desist from engaging in an exchange of online cryptocurrency instantly.
IFSC latest warning
Earlier last month that the IFSC issued a warning against Forex and Bitcoin investment company Xmaxbit. The watchdog mentions that the entity is not licensed by the Financial Services Commission. Hence, it can’t offer any financial or trade related services. Moreover, the regulator warned all investors to be cautious and avoid dealings through Xmaxbit’s website as it is a complete forgery.
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