CBSL probes ‘MTFE’ trading app

The Resolution and Enforcement Department of the Central Bank of Sri Lanka (CBSL)  has commenced a probe into the ‘MTFE Group Sri Lanka’ trading platform.

Accordingly, the CBSL reported that as per the facts uncovered thus far, it is indicative that the trading platform operates in line with the system of pyramid schemes, which are prohibited in Sri Lanka.

The Metaverse Foreign Exchange (MTFE) Group, albeit being marked as a trading platform for forex, commodities, stocks and cryptocurrency, has been surrounded by much controversy over its rather dubious presence.