Reason for this visit

Cyprus boasts a relatively friendly cryptocurrency-related legislative environment, and currently allows cryptocurrency trading. The government has adopted an open policy to promote digital economy and increasingly strengthen the related regulation by requiring exchange platforms to implement KYC. There are a certain number of cryptocurrency exchanges and blockchain startups in Cyprus, and some merchants and enterprises have started to accept cryptocurrencies like Bitcoin as a payment method, with parts of ATMs supporting withdrawal by cryptocurrencies. In an attempt to help investors to get a more comprehensive understanding of the exchanges in Cyprus, WikiBit survey team decides to go to the country for on-site visits to local companies.

On-site visit

In this issue, the survey team went to Cyprus, to visit cryptocurrency exchange ARUM CAPITAL as planned according to its regulatory address that 2 Grigori Afxentiou, 2nd Floor, Office 201, CY 4003, Limassol, Cyprus.

On July 18, 2024, the investigators came to 2 Grigori Afxentiou in Limassol, the second largest city of Cyprus, for a visit to the companys office, and located a 5-storey commercial building with a relatively old façade.

Upon arrival at the building for further investigation, the survey personnel discovered that the 1st floor was occupied by a grocery next to the entrance to the building, with no directory on the floor. So they planned to go upstairs for further checking.

After reaching the 2nd floor, the inspection team discovered easily the office of Arum Capital, with the company‘s name on the door. In addition, the mailbox on the floor also displayed the exchange’s name.

Through the on-site investigation, it is confirmed that the company has a physical presence at the location.

Conclusion

The survey team went to Cyprus to visit cryptocurrency exchange Arum Capital, and found the companys name at its regulatory address. This denotes that it has a physical business office at the place. Meanwhile, investors are advised to make an informed decision following much deliberation.

Disclaimer

The content is for informational purpose only, and shall not be taken as a final order for making a choice.