Bank of Lithuania restricted activities of Transactive Systems UAB

[Blackcrypto]

Hello,

Wow big news for Transactive. The company is now prohibited to service financial institutions, forex clients and VASPs.

https://www.lb.lt/lt/naujienos/lietuvos-bankas-apribojo-transactive-systems-uab-veikla

 

[Fred]

No surprise after they gave almost every questionable Caribbean Bank like Hermes Bank SEPA access - same for Crypto exchanges. and unregulated Forex entities.

I guess same like Mistertango in the past and Deutsche Kontor Privatbank / Wirecard Bank they just got so many times reselled that they had lost the overview and ended up being in the centre of several Forex and Crypto scams.

The reselling of there infrastructure was there core business and most likely they lost the overview or didn't properly checked the ongoing compliance from other financial institutions which were using there infrastructure.

 

[csp dubai]

they open avccount to scammer forex companies, i am sure they get huge percecent on incoming

 

[MiddleEuroAsia]

most of the Lithuanian trash EMIs that are offering while label solutions for trash companies will be facing the same fate soon, time to weed out these "financial" companies so the good one could thrive in a fair market.

 

[RealDude]

most of the Lithuanian trash EMIs that are offering while label solutions for trash companies will be facing the same fate soon, time to weed out these "financial" companies so the good one could thrive in a fair market.

I think you meant „time to weed out these "financial" countries“

 

[aragon]

Since I know crypto.com were using Transactive for fiat services, looks like this has affected them. They made this announcement recently:

from Crypto.com Status