HOLD was launched 2 years ago, and during this time we achieved some major milestones. A zero-fee crypto exchange and free Visa card were just some of the things made available to our users.
As a company, we always want to do everything right. This included secure customer verification and other important compliance measures. A few months after HOLD was founded, Malta introduced new regulation which required HOLD to apply for a “Virtual Financial Assets” license to continue our vision. We accepted this as the best way forward and applied in 2019.
Over the following months, it became increasingly clear that the legal framework (VFA) was too restrictive and didn’t allow HOLD to be competitive. This created issues, not only for us, but also other companies as the news made publicly available, and led to many abandoning their plans to operate from Malta.
Today we, too, are announcing that HOLD will no longer pursue the mandatory licenses in Malta. Together with a long-lasting bear market putting financial strain on us, we are forced to stop the majority of our services with immediate effect.
How does this affect you?
Let us assure you that HOLD is committed to finding a way forward and re-start these services soon. However, due to the current uncertain times, we ask all users to withdraw their funds immediately.
- All deposits are disabled with immediate effect.
- All withdrawals will be disabled on 30 April 2020.
- All exchanges will be disabled on 30 April 2020.
All the best,