Tag: Al Alam Solutions

The Austrian FMA revoked XTrader24's permission to trade cryptocurrencies on December 16, 2021. According to the regulator, there were numerous, severe violations of the Money Laundering Act. FinTelegram has reported on this. At first glance, the revocation does not look spectacular. However, the XTrader24 case becomes spectacular when you look at the Wirecard background, which occupies parliaments and the judiciary in Germany and Austria.

The payment service provider Wirecard is not running out of negative headlines. That's for sure. The special audit report submitted by KPMG at the end of April 2020 has greatly increased the pressure on the DAX-listed German FinTech, its CEO Markus Braun, and finally its auditor EY. Since then, the share price has plummeted from more than €138 to €76.36 on May 15, 2020.