The Cyprus Securities and Exchange Commission (CySEC) has released a statement informing investors that it identified another four websites that are not operated by entities authorised to provide investment services under Cypriot law.
The regulator stated that the websites deumarket.com, crowd-base.com, velorato.com and xt-blimited.com do not belong to an entity granted authorisation for the provision of investment services and or the performance of investment activities.
CySEC stressed that the absence of authorisation means these websites are not licensed to offer investment services within or from the Republic of Cyprus.
The commission urged investors to exercise caution before engaging in any business or financial transactions through the specific online platforms.
CySEC called on the public to consult its official website in order to verify which entities are properly licensed to provide investment services and or investment activities.
By checking the regulator’s website, investors can ascertain whether a firm has been granted the necessary authorisation to operate legally in Cyprus.
The announcement forms part of CySEC’s ongoing efforts to safeguard investor protection and uphold the integrity of the investment services framework.