Central Bank Warns about Unauthorised Crypto-Asset Companies

Bratislava, 18 July (TASR) - Slovakia's central bank (NBS) has warned about several companies that are reportedly offering or promoting crypto-asset products and services without the required authorisation, TASR reported earlier this week. NBS has advised that the identity of any provider, the terms and conditions of the product and the associated risks should be carefully verified before any crypto-asset services are used. According to available information, the warning currently applies to the online interfaces of companies called PEKRAT press & change, MiraGroup, Swipelux and AURUM FOUNDATION LIMITED. "Crypto-asset services may only be provided in Slovakia by authorised crypto-asset service providers with authorisation from NBS or the relevant supervisory authority of another EU-member state," stressed NBS, noting that by using the services of such companies, clients expose themselves to significant risk. "NBS has long been warning clients on the financial market to verify - by using the register available on the NBS website - the authorisation of the entity via which they make a transaction if they wish to invest," added the central bank. By law, financial market oversight isn't public, so the central bank doesn't publish the results of its supervisory activities. "NBS always takes the necessary steps and cooperates with other institutions and authorities. If it is suspected that a criminal offence has been committed, consumers are advised to file a criminal complaint with the relevant Police Corps department or the prosecution service," noted the central bank. jrg/df