The Isle of Man Financial Services Authority said on 25 April it had issued a written direction to Soteria Solutions Limited that it was “to take the action of suspending all designated business undertaken by the firm”.
“Soteria, which had been registered with the Authority under the Designated Businesses (Registration and Oversight) Act 2015 to undertake convertible virtual currency business (commonly known as virtual or crypto-asset business), has shared directors and officers with the King Gaming group of companies”, the island’s regulator said.
The Isle of Man Financial Services Authority further said it was “aware of an ongoing criminal investigation and the decision by the Gambling Supervision Commission to suspend the licences of King Gaming and Dalmine Limited”.
“The Authority has determined that it is in the interest of the public to issue this public statement.
“As this matter is subject to a criminal investigation, the Authority is unable to provide any further comment at this time.”
Read More: Isle of Man FSA suspends crypto-asset business | International Adviser
Disclaimer:The information provided on this website does not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the website’s content as such. NewsOfBitcoin.com does not recommend that any cryptocurrency should be bought, sold, or held by you. Do conduct your own due diligence and consult your financial advisor before making any investment decisions.
