Public Statement 23 of 2020 - BINARY CRYPTO EXCHANGE

Summary

This is a public warning notice issued by the British Virgin Islands Financial Services Commission (FSC) concerning an entity calling itself BINARY CRYPTO EXCHANGE. The FSC states that this entity is circulating a forged investment business licence and falsely claims to be authorised and regulated by the FSC to carry on investment business.

• Warning: BINARY CRYPTO EXCHANGE has never been licensed or regulated by the FSC to conduct investment business or any other financial services business in or from the BVI.
• Forged document: The entity is using a forged investment business licence to purport that it is authorised by the FSC.
• Public advisory: Members of the public are advised to exercise extreme caution if solicited to conduct business with this entity.
• Legal basis: The statement is issued pursuant to Section 37A of the Financial Services Commission Act, 2001.

The notice does not create any ongoing compliance obligations for licensed entities; it is an informational alert intended to protect the public and invites anyone with relevant information about the entity or similar questionable operators to contact the FSC.

Applies to

unlicensed/unregulated entity purporting to conduct investment business, general public