Reason for this visit

Cyprus boasts a relatively friendly cryptocurrency-related legislative environment, and currently allows cryptocurrency trading. The government has adopted an open policy to promote digital economy and increasingly strengthen the related regulation by requiring exchange platforms to implement KYC. There are a certain number of cryptocurrency exchanges and blockchain startups in Cyprus, and some merchants and enterprises have started to accept cryptocurrencies like Bitcoin as a payment method, with parts of ATMs supporting withdrawal by cryptocurrencies. In an attempt to help investors to get a more comprehensive understanding of the 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 FXTB as planned according to its regulatory address that 71 Limassol Avenue, Kleanthis Tower, 2nd Floor, CY 2121, Nicosia, Cyprus.

On March 28, 2024, the investigators came to Kleanthis Tower, a 5-story commercial structure, at 71 Limassol Avenue in Nicosia of Cyprus for a visit to the exchanges office. And the building boasts a relatively old façade.

Upon arrival at the building for further investigation, the survey personnel discovered that FXTB was situated on the 2nd floor, with the brokers dedicated logo and relevant information displayed both inside and outside of the structure.

After reaching the 2nd floor via the lift, the inspection team could find FXTBs logo and information with ease, which further proves the existence of the broker in the building.

Through the on-site investigation, it is confirmed that the broker has a physical presence at the location.

Conclusion

The survey team went to Cyprus to visit cryptocurrency exchange FXTB, and found the companys name at its regulatory address. This denotes that the exchange has a physical business office at the place. Meanwhile, investors are advised to make an informed decision following much deliberation.

Disclaimer

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