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The Cypriot regulator issued two small fines to SpotOption Exchange and BDSwiss in December in what seems to be an ongoing effort by the regulator to get its house in order. After a lot of criticism, the Cypriot regulator has ramped up its control mechanisms and started taking action against a number of companies in the industry.
Spotoption Exchange was fined €10,000, while BDSwiss was fined €5,000 with the CySEC announcement not providing any details about the reasoning behind the move.
Finance Magnates has reached out for an official statement from the companies. At the time of publication only a BDSwiss ... (read more)