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The Comisión Nacional del Mercado de Valores (CNMV) has issued warnings about unregistered institutions that are unauthorized to offer investment services or related activities, including cryptocurrency services. The warning was published on the CNMV's official website on February 17, 2025.
According to the CNMV, several entities have been flagged for operating without proper registration or presenting misleading information. These include trader-master.com (clon), ACMJ (mobile app), adrofx.com, blumbergtrade.com, cryptoes4u.io, fxrk.com, 2bfx.eu, stocket.net, and Trade Republic Bank (clon). The latter has reportedly used fraudulent email addresses to impersonate employees of Trade Republic Bank GMBH.
The CNMV issues such warnings to protect investors from unauthorized entities that provide investment services or engage in financial activities without proper registration or authorization. These entities often operate outside regulatory oversight, increasing the risk of capital loss for investors. To avoid confusion, some unauthorized firms falsely use the CNMV's name to present themselves as legitimate, leading to a misleading sense of security. The CNMV also collaborates with foreign regulators to share warnings about such entities in an effort to inform investors and reduce risks. According to the CNMV, it offers a search engine for investors to verify whether an entity is authorized.
