FSCA WARNS AGAINST FX TRADE BITCOIN

THE Financial Sector Conduct Authority (FSCA) has warned the public to be cautious when conducting financial services business with FX Trade Bitcoin. Last week, it said FX Trade Bitcoin was not authorised to give financial advice or render intermediary services under the financial act. It had received information that FX Trade Bitcoin was soliciting investments from the public and had received complaints from investors who seemed to be unable to recover their funds from the firm. “The warning is made against the background of an everincreasing number of fraudulent activities in the crypto asset and on-line trading environment. It is also of concern that the website of FX Trade Bitcoin has no contact details,” it said.