CNMV publishes warnings on international unregistered entities

The Comisión Nacional del Mercado de Valores (CNMV) has announced warnings from international supervisors regarding unregistered entities, including some involved in cryptocurrency services. The warning was published on the CNMV's official website on March 5, 2025.

According to the CNMV, the Italian regulator Consob has ordered internet providers to block access to several investment service websites, including RevolutFX, Macan Holdings Ltd, Emeraltrade, ItradingFX, TSAFGroup, FlowTradey, State Street Markets Limited, AlfaCapitalCFD, and PeopleLife-Datexit Limited. Luxembourg's Commission de Surveillance du Secteur Financier (CSSF) warned that WorldInvestorsSRL.com was impersonating a legitimate firm. Ireland's Central Bank of Ireland (CBI) flagged Horizon Legal Partners, SMT Capital, Primo Group, Hastle Free Euros, Circle Loans (a clone of a legitimate entity), and Polysharp Investments Limited. The Dutch Authority for the Financial Markets (AFM) issued warnings about ProFocus Capital Ltd, Tofro Exchange, and ArbitrageXCE.

The CNMV issues 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, which increases the risk of capital loss for investors. The CNMV also collaborates with foreign regulators to share warnings about such entities with the aim of informing investors and reducing risks.

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All registered Virtual Asset Service Providers (VASPs), including Binance and Bit2Me, are excluded from the CNMV grey list. This list identifies entities operating in Spain without regulatory authorization or registration as part of a regulatory update. According to DataBitlaw, this update applies broadly to entities that have transitioned to regulated status under the Markets in Crypto-Assets Regulation (MiCA). The adjustment reflects these entities' alignment with European Union regulatory requirements during the grandfathering period.

The CNMV oversees Spain's securities markets to ensure transparency, accurate pricing, and investor protection. Created by the 1988 Securities Market Law, it supervises securities issuers, investment service providers, and collective investment schemes while focusing on market stability and system solvency. It manages public records of market participants and advises both the government and Ministry of Economy on securities matters while actively engaging with international organizations.