MNB bars 5Gulden companies from unlicensed activity

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Image by Jessica Fejos

The National Bank of Hungary (MNB) today said it barred two companies, both called 5Gulden Corporation, from any activity requiring a permit from or registration with the central bank, Hungarian news agency MTI reported.

The central bank and financial market watchdog also launched a procedure against the companies, registered in Belize and the Seychelles.

The companies appear to have ties to New Zealand-based 3TG FX Financial, which has also come under scrutiny for operating in Hungary without a license, the MNB said.

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