Cayman Island-headquartered Rtcoin does not have a license under KWG to operate in Germany.
The details on the company’s website are enough to doubt that it is conducting banking and financial business without authorization.
The authorities have cautioned users to conduct background checks before investing.
To avoid the re-occurrence of the FTX saga, regulating authorities in jurisdictions worldwide are scrutinizing all the exchanges working with them. South Korea has asked their exchanges not to issue tokens. And share the entire transitions report with the authorities. Germany’s financial regulator, BaFin, notified on Friday that Rtcoin is not authorized to operate in the country.
BaFin warns that Rtcoin is not a recognized crypto exchange in Germany. Rtcoin is a Cayman Islands-based crypto exchange that claims to have offices in four other jurisdictions. – The Block#Ainvest #Ainvest_Wire #Equity #commodities #Trending View more: https://t.co/lTXh1dzMi0 pic.twitter
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