Belize Financial Regulator Warns Against Fraudulent Bitcoin Investment Company

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The financial regulator of Central American nation Belize has issued a public warning against XMAXBIT, a company that claims to provide returns for investors by investing in cryptocurrencies like bitcoin.

Published on Monday, the Office of the International Financial Services Commission (IFSC), Belize’s financial regulator, has warned users against dealing with the company.

XMAXBiT claims to be an “international registered company”, with accompanying legal documents to prove its credentials on its website. A ‘Certificate of Incorporation’ purports its validity as a company in Belize.

The certificate is a ‘complete forgery” wrote Neri J.Matus, IFSC director general in his warning, before adding:

This entity is not licensed/regulated by the International Financial Services Commission or any other competent authority in Belize to conduct any type of trading business.  All persons concerned are warned to take note and exercise extreme caution.

On its website, XMABIT says it was founded in January 2010. Investor returns will be made in bitcoin payments, the company added.

“Our profile of work is effective investments in cryptocurrency (LiteCoin, Bitcoin) and mining,” the company wrote.”

Read more ... source: CryptoCoinsNews

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