FinTelegram has been diligently monitoring the landscape of crypto service providers since 2018, a period during which we have witnessed significant evolution and regulatory development within the cryptocurrency industry. Initially, the regulatory environment for crypto companies was sparse, with substantial frameworks only beginning to take shape around 2020. The introduction of the Markets in Crypto Assets Regulation (MiCA) in the EU in 2023 marked a significant milestone in the regulatory evolution of the crypto sector.
Throughout our investigative endeavors from 2018 to 2021, particularly in what we refer to as the “pre-regulatory age” of the crypto scene, FinTelegram has placed numerous crypto companies under scrutiny, reporting on their operations and their roles as payment facilitators for unauthorized brokers and broker scams. It was during this period that we also reported on Mercuryo, which operated under a crypto license from Estonia and is currently registered as a crypto service provider in Lithuania.
Mercuryo raised concerns regarding the portrayal of its operations in FinTelegram’s reports, stating that the content was defamatory and misrepresented its activities. In response, representatives from Mercuryo engaged with FinTelegram, seeking corrections or the removal of certain statements. FinTelegram, maintaining its stance based on the accuracy and factual basis of the reported content, initially declined these requests.
After extensive negotiations between Mercuryo and FinTelegram, which unfolded over several months, it is pertinent to acknowledge that Mercuryo has evolved to become a prominent crypto payment processor, partnering with leading crypto exchanges. Our subsequent reviews have not identified Mercuryo as a payment facilitator for online brokers.
Given this context and the shared interests of both parties in averting protracted and costly legal proceedings while each steadfastly maintaining the correctness of their respective positions, Mercuryo and FinTelegram have arrived at a settlement agreement. Under the terms of this settlement, FinTelegram will remove the reports in question, as they stood at the time of the settlement, from our online platform and will abstain from future reporting on Mercuryo.
This settlement is reached with the mutual understanding that it allows both parties to move forward, focusing on their respective missions without the overhang of ongoing legal disputes. FinTelegram remains committed to its objective of providing insightful and factual reporting within the crypto and financial industry landscapes, guided by the principles of transparency and integrity.
