St. Kitts and Nevis along with other countries of the Eastern Caribbean have been encouraged by the ECCB to be cautious prior to investing in Crypto Assets.

Following the recent collapse of FTX in The Bahamas, which was reported to be a significant player in the crypto space, the ECCB has encouraged the public to exercise due diligence and to be mindful of the high level of risk crypto-assets present.

In relation to the incident, The Financial Services Regulatory Commission (FSRC) in St. Kitts and Nevis also advised the General Public to proceed with caution when approached by any person or representative of a business entity who may be offering a financial service without a local license.

The commission recommended that the proposed service be verified for approval and licensing by the relevant licensing authority.

The FSRC Branch in Nevis can be contacted at 469-1469 for any information or assistance that may be required.