Liechtenstein’s Financial Markets Authority has issued a securities fraud warning against Exchange Wallet.
The FMA’s warning pertains to EXW Global AG, with the regulator stating the company “has not been licensed by the FMA”.
In particular, contrary to what is stated on (Exchange Wallet’s) website … it is not permitted to provide banking activities or payment services.
The FMA urgently advises to only do business subject to authorisation with financial firms that are authorised by the FMA or other national authorities.
Liechtenstein’s warning follows
similar warnings from Austria and Germany
over the past fortnight.
🤖 Quick Answer
What warning did Liechtenstein's Financial Markets Authority issue regarding Exchange Wallet?Liechtenstein's FMA issued a securities fraud warning against EXW Global AG, stating the company lacks proper licensing. The regulator clarified that Exchange Wallet is unauthorized to provide banking activities or payment services, contradicting claims on its website. The FMA advised conducting business only with FMA-authorized financial firms.
Which other countries issued similar warnings about Exchange Wallet?
Austria and Germany issued comparable warnings against Exchange Wallet within the fortnight preceding Liechtenstein's alert. These coordinated regulatory actions across multiple European nations underscore growing concerns regarding the company's unauthorized financial operations and potential fraudulent activities targeting consumers and investors.
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