Malta’s government has released a new warning about a cryptocurrency margin trading site Stocksbtc.

It claims on its website to be registered with the Malta Financial Services Authority (MFSA) and to have a physical location in the country. This assertion is false as there is no entity registered with the Authority under either the name “stocksbtc” or it’s registration number 2017/871.

“The Malta Financial Services Authority (“MFSA”) has become aware of an entity operating under the name “stocksbtc”, which is known to have an internet presence at https://stocksbtc.com/, and which, according to information available to the MFSA, appears to be offering investment and/or other financial services to consumers.” said in a statement.

As part of its warning, the regulator noted that Stocksbtc is not “licensed or otherwise authorized by the MFSA to provide any type of financial services which are required to be licensed or otherwise authorized under Maltese law.”

“The MFSA strongly advises investors and consumers of financial services that prior to making any investment or entering into any financial services transaction they should ascertain that the entity with whom the investment or transaction is being made is authorized to provide such services by the MFSA or other financial services regulatory authority as applicable,” the statement continued.
The MFSA has taken a largely cautious approach to the cryptocurrency space. This statement was the first since it published a general advisory.