The Bermuda Monetary Authority has issued a public warning about two entities falsely claiming to be licensed in Bermuda.

A BMA notice said Coinmint Bermuda Ltd and Coinmint Bermuda Services Ltd are not incorporated in Bermuda and have not been granted any licence under the island’s Digital Asset Business Act 2018.

The regulator confirmed that no companies under those names appear on the Bermuda Register of Companies and that it has not authorised either entity to conduct regulated digital asset business on the island.

The BMA has added “Coinmint” to its warning list of known unauthorised firms and individuals. The authority reminded the public that it maintains an online register of regulated entities and encouraged investors to verify the licensing status of any firm before conducting business.

“Conducting business with unregulated entities carries an increased risk for potential investors, especially when dealing with entities that make false claims of having been issued a licence,” the notice said.

The warning list can be accessed at www.bma.bm/warning-list.