March 20, 2024
The St. Vincent and the Grenadines Financial Services Authority (“the Authority”) hereby informs the public that an entity named HiTech Digital Business Ltd is NOT registered in St. Vincent and the Grenadines.
Any reliance on the legitimacy of this company, as portrayed on their website: Banking and Legal Information / HitBTC, (shown in the screenshot provided below), is fraudulent.
It is important for you to note that the Authority does NOT issue Bitcoin/Crypto licenses in this jurisdiction. Additionally, the Financial Services Authority neither regulates nor license Business Companies (BCs) nor Limited Liability Companies (LLCs) involved in Bitcoin/Crypto, Forex Trading or Brokerage. The extent of supervision goes no further than to ensure that BCs comply with their obligations under the Business Companies (Amendment and Consolidation) Act, Chapter 149 of the Revised Laws of Saint Vincent and the Grenadines 2009, and that LLCs comply with their obligations under the Limited Liability Companies Act, Chapter 151 of the Revised Laws of Saint Vincent and the Grenadines 2009. Notwithstanding this, BCs and LLCs engaged in forex trading/brokerage MUST obtain the necessary authority or license from the jurisdiction where their clients are located.
Any documents presented by HiTech Digital Business Ltd, claiming incorporation, registration, formation, licensing, or affiliation with the Authority, are false and forged. The Authority strongly cautions against engaging in any business transactions with this entity, as individuals may become vulnerable to fraudulent activities.
