10 November 2020
We are pleased to announce that all charges against ETR AG and its management team have been dropped by the Liechtenstein Public Prosecutor’s Office.
From the very beginning, our priority was the cooperative and active participation of our subsidiary ETR AG in the investigation of the criticized events. The result confirms this position and we would like to thank all involved authorities for their fair handling.
Of course the report of the FMA Liechtenstein has blurred trust of Blocktrade clients, nevertheless during this time we have received a lot of encouragement from the community and have been able to gain important lessons from this dispute.
Thus we congratulate Blocktrade to soon enter a financing round that will take it to a new level. Obviously investor confidence is unbroken and in the coming weeks the Blocktrade team will be able to share corresponding news.
Due to a strategic reorientation of Blocktrade it has been decided to relocate headquarters to a new jurisdiction. In this respect the dismissal of the legal proceedings is an important step into this future!
As Cryptix, we apologize to customers and employees for any inconvenience this incident may have caused. At no time were customer funds at risk, and yet we established a new compliance layer within the Cryptix Group.
We are working in a volatile area of regulation and new markets and market conditions are being created. It is our understanding that only government regulation can secure what we have achieved, which is why we will continue to work on this partnership!
We are looking forward to the upcoming news and further publications by Blocktrade!
