Reason for this visit

Estonia, known as one of the EU's most crypto-friendly countries, revoked the licenses of more than 1,000 cryptocurrency companies in 2020. Estonia's financial intelligence unit, FIU, has already revoked approximately 70% of the licenses of cryptocurrency companies operating in the country this year. Estonia has enacted a series of laws that seem to be aimed at encouraging exchanges and ICOs, and is regarded by many as a pioneer in the crypto industry. However, a major change in its regulatory environment later made it more difficult for licensed crypto companies to comply with local regulations. In order to help investors learn more about the current status of the Estonian cryptocurrency exchanges, the survey team is going to Estonia for site visits.

On-site visit

This time the survey team visited the cryptocurrency exchange Kickex in Tallinn, Estonia, with specific address at Harju maakond, Tallinn, Lasnamäe linnaosa, Peterburi tee 47.

The team came to the destination based on the above address at Peterburi tee. It was a building with two floors. They did not find the logo of Kickex outside it.

The team came to the front of the building and there was no lobby or security personnel. They still found no logo or other information of Kickex here.

The team entered the building and found no office in it except a taxi company with their pile of debris. They concluded that Kickex was not located in this address. The building looked like a warehouse but not office. What’s more, its address was same as Emirex’s.

Conclusion

The survey team went to Tallinn, Estonia to visit the cryptocurrency exchange Kickex, and found no business premise of the exchange, which means the given business address might be fake. Please be prudent if trading with this exchange. 

Disclaimer

The content is for informational purpose only, and shall not be taken as final order for making choice.