Advisory Warning No. 1 of 2023 - CEX Overseas LTD

CEX Overseas LTD

Tortola, British Virgin Islands - 6 June 2023 - The British Virgin Islands Financial Services Commission (“the FSC”) has been made aware that CEX Overseas LTD, together with other CEX.IO entities, and using the website address https://cex.io/, has been collectively operating a cryptocurrency trading platform which solicits customers to buy, sell, trade, and earn cryptocurrencies. This activity is regulated in the British Virgin Islands under the Virtual Assets Service Providers Act, 2022, pursuant to which companies operating virtual asset services are required to submit an application to the FSC for licensing by the 31st of July, 2023. 

The FSC hereby informs the public that although CEX Overseas LTD is incorporated and registered as a Business company in the British Virgin Islands, it is not licensed by the FSC to carry on virtual asset services business, or any other type of financial services business, in or from within the territory of the Virgin Islands. 

Members of the public are therefore advised to exercise caution in conducting any transactions with CEX Overseas LTD. The public is invited to provide the FSC with any relevant information on this and any other questionable entities that are purportedly operating in or from within the Virgin Islands.

The FSC is issuing this Advisory Warning under Section 4(1)(l) of the Financial Services Commission Act, 2001.