The ADGM Financial Services Regulatory Authority (FSRA) issued a regulatory alert warning the market and the public about misleading claims made by an entity or purported entity named MaskEx on https://maskex.com, which advertises crypto wallet and trading platform services. The FSRA flagged statements and website banners suggesting MaskEx is “registered as ADGM” and holds an “ADGM Category 3C Money Services Business Licence”. It stated that MaskEx is not, and has never been, granted Financial Services Permission to carry on any Regulated Activity in or from ADGM, and is not, and has never been, incorporated in ADGM or licensed to undertake any form of commercial activities there. The FSRA reminded investors that only FSRA-authorised firms can undertake Regulated Activities in ADGM and advised verifying a firm’s status via the FSRA Public Register and, for incorporation or registration claims, the ADGM Registration Authority’s Public Register.
ADGM Financial Services Regulatory Authority 2026-04-13
ADGM Financial Services Regulatory Authority warns MaskEx is not licensed or registered in ADGM despite claims on its website
The ADGM Financial Services Regulatory Authority issued a regulatory alert warning about misleading claims by MaskEx, which advertises crypto wallet and trading platform services and falsely suggests it is registered and licensed in ADGM. The authority clarified that MaskEx has never been granted Financial Services Permission, is not incorporated or licensed in ADGM, and reminded investors to verify firms via the FSRA and ADGM Registration Authority public registers.