Reason for this visit
As the smallest member of the European Union, Malta, a Mediterranean island country, hopes to becomes one of the most crypto-friendly regions in the world through perfect policies and regulations. Binance and OKEx, two of the world's top five cryptocurrency exchanges, chose Malta as their operation center, and then other exchanges followed suit. In order to help investors have a comprehensive understanding of the country's cryptocurrency exchanges, the survey team went to Malta for on-site visits.
In this issue, the investigation team went to St. Julian’s, Malta to visit the cryptocurrency exchange CoinDeal as planned according to the regulatory address it claims that Villa Malitah, Mediterranean Street, The Village.
The investigation team arrived at the destination in accordance with the above address, where a common low-rise office building, called “VILLA MALITAH”, stands in the Mediterranean Street of St. Julian’s, Malta.
The investigators did not find the logo and name of the cryptocurrency exchange CoinDeal outside the building, except for ACT Advisory Services Limited. There were plenty of rooms, and ACT could be seen everywhere.
After a conversation with the receptionist of company ACT, the survey personnel got to know that CoinDeal, one of the clients of company ACT, didn’t have a physical business office in Malta, besides the office in Poland.
The survey personnel went to St. Julian’s, Malta to visit the cryptocurrency exchange CoinDeal as scheduled, but did not find its logo and company name at its publicly displayed business address, which indicates that CoinDeal does not have a physical business office here. Investors are advised to choose this exchange carefully.
The content is for informational purpose only, and shall not be taken as a final order for making a choice.
5-10 years | MSB License | Suspicious Overrun | High potential risk