A number of cryptocurrency platforms reporting billions of dollars in daily trades on CoinMarketCap appear to have been misleading their customers about holding certain crypto licenses, an investigation by Cointelegraph has found.
Bitspay, a crypto exchange that reports a $1.4 billion daily trading volume on CoinMarketCap, claimed it held a license in Estonia, and is regulated under Estonian law. However, after Cointelegraph reached out with questions about this license, the company swiftly erased its reportedly fake license data.
At the time of writing, Bitspay is the fourth-largest crypto exchange by daily trading volume on CoinMarketCap, following platforms like Binance, BitForex and Topcredit International.According to data from CoinMarketCap, Bitspay is a centralized exchange based in Estonia.
on one of its domains, Bitspay.io, until it erased the information immediately following Cointelegraph's enquries.Contacted by Cointelegraph, Estonia’s FIU reported that Bitspay didn’t hold any valid license in Estonia. “We took a look into it and it seems that the license number which they have previously announced refers to an Estonian company Globe Assets OÜ,” a spokesperson for the FIU said in a statement on Sept. 21.
At the time of writing, Bitspay has not provided any information about its registration or license on its new website. The exchange also claims on its website that its daily trading volume amounts to 65,249 Bitcoin (
Coin Coin Latest News, Coin Coin Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Crypto traders shift focus to these 4 altcoins as Bitcoin price flatlinesLINK, MKR, ARB, and THETA are showing positive signs on the chart but they may need a bullish confirmation from Bitcoin before rallying.
Source: Cointelegraph - 🏆 562. / 51 Read more »