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Luxembourg Financial Watchdog: Crypto Entity Lied About Licensure

Luxembourg’s monetary regulator, the Fee de Surveillance du Secteur Financier (CSSF), says that a apparently crypto-related entity known as Cryptominingoptionsignal claims to be authorized in Luxembourg, however isn’t. In a caution understand dated Aug. 13, the rustic’s watchdog merely wrote: 

“The Fee de Surveillance du Secteur Financier (CSSF) warns the general public of the actions of an entity named Cryptominingoptionsignal […] The CSSF informs the general public that Cryptominingoptionsignal is unknown to it and that the entity has now not been granted any authorisation to supply funding products and services or different monetary products and services in or from Luxembourg.”

Innovation in Luxembourg

As up to now reported via Cointelegraph, Luxembourg-based securitization company Argento partnered with the London Block Alternate to collectively factor a Bitcoin (BTC)-denominated bond, which is regulated via the UK’s finance watchdog — the Monetary Habits Authority (FCA). Argento supervisor Phil Millo remarked:

“We’re overjoyed to have structured and produced the sector’s first institutional grade bitcoin-denominated monetary product […] The massive funding banks truly dropped the ball in this one.”

Any other rip-off, every other watchdog document

In overdue July, the FCA reported but every other rip-off venture. It seems that a letter entitled “Assured likelihood to earn” has been circulating by way of e-mail, with the senders impersonating the FCA because the purported writer. The e-mail contained a promotion for cryptocurrency investments and recommended readers to observe a hyperlink to an exterior website. The FCA has mentioned that it’s not in the back of the emails, and warned the general public that this used to be very most probably a rip-off marketing campaign:

“The correspondence could be related to arranged fraud and we strongly advise you now not to reply to the criminals whatsoever. Search for indicators that the e-mail, letter or telephone name will not be from us, such because it checklist a cellular or in another country touch telephone quantity, an e-mail cope with from a hotmail or gmail account, or a international PO Field quantity.”

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