Reason for this visit

Due to various reasons, Cyprus has gradually become an active country in cryptocurrency trading. The regulatory framework for the cryptocurrency ecosystem in Cyprus is in line with the crypto legislation of the European Union, focusing mainly on consumer protection, anti-money laundering, and anti-terrorism financing. All institutions that provide cryptocurrency asset services must register with the financial regulatory authority, the Cyprus Securities and Exchange Commission (CySEC). There are also regulations regarding the source of operational funds and the detection and reporting of suspicious transactions through continuous transaction monitoring. Cyprus has a broad future development prospect in the blockchain finance field and is expected to become a global blockchain financial center, appealing to more blockchain companies, cryptocurrency exchanges, and investors. In an attempt to help investors gain a comprehensive understanding of cryptocurrency exchanges in Cyprus, WikiBit survey team decides to go to the country for on-site visits to local companies.

On-site visit

In this issue, the survey team went to Cyprus to visit cryptocurrency exchange ROInvesting as planned according to its regulatory address that 128-130 Limassol Avenue, 3rd Floor, CY 2015, Strovolos, Nicosia, Cyprus.

On March 28, 2024, the investigators came to 128-130 Limassol Avenue in Strovolos of Nicosia, Cyprus for a visit to the exchanges office, and located a 5-story commercial building in a business center of the city. In the meantime, the building is easily accessible via public transports with doorstep access to various destinations.

There were some company logos showcased on the façade of the building, without, however, any sign of “ROInvesting”.

Upon arrival at the building for further investigation, the survey personnel spotted a directory in the lobby, which didnt display any relevant information of “ROInvesting” on the 3rd floor.

After proceeding to the 3rd floor via the elevator, the inspection team failed to see any information pertinent to ROInvesting.

Subsequently, the investigators intended to further explore the official website of ROInvesting to determine its specific location. However, it was found that the website of the company was inaccessible, in spite of an attempt to connect the site through multiple different IP addresses.

Simultaneously, the team conducted an investigation into the website of Caplatine (http:/caplatine.td/countries/), which was located on the 3rd floor. It could be discovered that Caplatine is merely a company specializing in business, licensing, and accounting solutions, providing professional licensing and company registration services. In all likelihood, ROInvesting may have utilized Caplatines services for company registration.

Through the on-site investigation, it‘s confirmed that ROInvesting doesn’t have a physical presence at the location.

Conclusion

The survey team went to Cyprus to visit cryptocurrency exchange ROInvesting, but didnt find the company at its regulatory address. This denotes that the company might just register at the place without a physical business office. Accordingly, investors should be meticulous in choosing the exchange.

Disclaimer

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