Tag: Staern

Regulatory Issues! Malta’s FIAU sued by N Trust Limited!

Court Cases Ben - May 23, 2022

A wave of court cases has been filed in Malta’s courts against the FIAU, headed by Kenneth Farrugia. The regulator is under harsh criticism for acting late or not acting at all against the big fish while being too strong with the weak. The FIAU dished out a €94,868 fine against N Trust Limited earlier this year. N Trust Limited has appealed the fine and sued the FIAU for allegedly acting as judge, jury, and prosecutor, which would violate constitutional and human rights.

Russian-owned Staern Limited surrenders Maltese crypto license!

Cryptonomics Guest Contributor - April 12, 2022

Some €60 billion in crypto moved through Malta after it first announced itself as the "blockchain island." One of the crypto ventures that moved to the crypto island was Staern Limited, registered in Malta in May 2020. The company was awarded a Virtual Financial Asset (VFA) license by the MFSA soon after. However, the “blockchain island” became a disaster. Staern has now surrendered its license. The sole shareholder of Staern is the Russian Khetag Albegov.

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