The Spanish National Securities Market Commission (CNMV) issued a new warning today, Monday, August 16, against 12 unregistered entities. On this occasion, the regulatory body pointed to platforms that offer bitcoin (BTC) investment and trading services.
The companies indicated by the commission are: The Market Limited, Skyway Capital, Profit Assist, N2 Group, Markets EU, Markets Cube, Liberty Sky, Huobi, Financial Resident, Expertise Trader, Dsdaq Market and Bybit. Through a statement, the CNMV pointed out that the platforms are not regulated by them and that they are not authorized to operate in Spain.
«The CNMV shows that these companies are not listed in the corresponding registry of this Commission and, therefore, they are not authorized to provide investment services or other activities subject to the supervision of the CNMV ”explained the government agency.
In this group indicated by the commission highlight startups of the bitcoiner ecosystem and cryptocurrencies in general. In addition, there are also platforms that are dedicated to the exchange of currencies and investments in other financial products. Websites like Liberty Sky could even arouse suspicion as it offers up to 2% daily return on an investment of $ 10,000.
Preventive measures against possible scams
Commission warnings are common and are executed as a measure to prevent possible cases of scam. However, the alerts it issues do not necessarily mean that the activities of these organizations are blocked or suspended. It is the operators or users who ultimately decide whether to invest in this type of services online .
In other words, the actions of the CNMV move in the administrative sphere, not to compensate money or deliver justice, in case someone is harmed. For these cases, the commission invites people who may be affected to go to the ordinary courts.
For the CNMV, an unauthorized entity is one that cannot act in the securities markets or provide investment services. Companies that are included in the “black list” must not carry out “activities reserved for investment institutions” such as receiving, transmitting and executing orders, managing portfolios or advising, for example.
In The past CriptoNoticias has spread the alerts of the CNMV, especially those related to bitcoin and other cryptocurrencies. In November 2019 the commission warned about the operations in Spain of another 4 unauthorized entities. At that time the signal was for Alycoin, FXTV, Terra Finance and Aurum Pro.
More recently, in October last year, the commission said that the Arbistar organization, currently under investigation for alleged fraud, was also unable to operate legally in the country. There are two ongoing investigations into this case: one police and one judicial.
