Hungarian financial market regulator PSzÁF on Friday said it suspended the license of internet currency trading company iFOREX for six months because the company lacks the material and technical conditions for operation.
The suspension will be lifted after six months if iFOREX shows PSzÁF the necessary conditions have been created.
PSzÁF also said it fined the company HUF 20 million for breaking regulations on information provision.
Producing journalism that is worthy of the name is a costly business. For over 30 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
