MyStonks Announcement on Regulatory Inquiry
The digital asset exchange MyStonks has made a public announcement concerning a recent inquiry from a U.S. regulatory body. This investigation is focused on a specific user and involves various serious issues, including potential money laundering, drug trafficking, fraud syndicates, and the evasion of sanctions, along with suspicious activity reports (SAR).
Importantly, the scrutiny surrounding this individual will not disrupt the operational integrity of the platform for its other users, who can continue their deposit and withdrawal activities without concern.
Compliance and Operational Integrity
MyStonks, which operates under strict regulatory compliance, holds a Money Service Business License (MSB) from U.S. FinCEN and has completed necessary filings with the SEC for Security Token Offerings (STO). The platform reassured its users by stating that its business operations are functioning normally and that they prioritize the security and stability of user assets.
Their compliance team has proactively reached out to the user in question, guiding them through necessary procedures to ensure that they fulfill compliance requirements. The confidentiality of user information is a strict policy for MyStonks, with data being used solely in accordance with legal stipulations.
Commitment to Users and Regulatory Cooperation
The exchange reiterated its commitment to enhancing compliance systems to protect users’ rights and safeguard their financial assets. Moreover, MyStonks affirmed its intention to fully cooperate with regulatory authorities as needed.
