The Cyprus Securities and Exchange Commission (CySEC) today issued a warning regarding a crypto firm that operates without the necessary regulatory permission.

The CySEC warns the public that the website http://berkshirehathawaytx.com does not belong to an entity registered to CySEC’s register as Crypto Asset Service Provider, as provided by article 61E of the Prevention and Suppression of Money Laundering and Terrorist Financing Laws of 2007, as amended.

 The regulator urges investors to consult its website www.cysec.gov.cy, in order to ascertain the entities, which are registered by CySEC, as Crypto Asset Service Providers, prior to establishing any business relation.

“Crypto Asset Services Provider” or “CASP” means a person who provides or exercises one or more of the following services or activities:

• Exchange between crypto-assets and fiat currencies;
• Exchange between crypto-assets;
• Management, transfer, holding and/or safekeeping, including custody, of crypto-assets or cryptographic keys or means which allow the exercise of control over crypto-assets;
• Offering and/or sale of crypto-assets, including the initial offering; and
• Participation and/or provision of financial services regarding the distribution, offer and/or sale of crypto-assets, including the initial offering.

CASPs operating from Cyprus must be registered with CySEC in order to be able to provide services and/or perform activities in relation to crypto-assets and will be regulated by CySEC under the Cumulative CASP rules.