The Malta Financial Services Authority (“MFSA”) decided to impose a Directive against the Company.

Address:

Real Exchange (REX) Ltd
5/1, Merchants Street
Valletta VLT 1171

Business Activity: Applied for a Class 4 Virtual Financial Assets Licence, and operating under the Transitory Provision as per Article 62 of the Virtual Financial Assets Act, Chapter 590 of the Laws of Malta (“the VFA Act”).

Website: kyrrex.com

REGULATORY ACTION

The MFSA considers that the Company is not in a position to adhere in full to the requirements of Chapter 3 of the Virtual Financial Assets Rulebook (“the Rules”) and therefore on 17 December 2020, the MFSA directed the Company to cease the on-boarding of new clients with immediate effect.

PUBLICATION

This notice is being published as part of the MFSA’s standard enforcement policy and in terms of Article 41 of the VFA Act and Article 16 of the Malta Financial Services Authority Act.

UPDATED ON 17 JANUARY 2021

The Authority’s decision was not appealed before the Financial Services Tribunal within the period established by law.

UPDATED ON 30 JUNE 2021

This Directive shall cease to have effect as at 30 June 2021.