Malta\u2019s financial services regulator has disputed the registration status of a digital currency arbitrage trading company. Known as Arb Signals Limited, it reportedly claimed to be registered in Malta, but the country\u2019s Financial Services Authority (MFSA) disputed the claim in a statement. Operating under the trading name Arbitly, the company describes itself as a \u201ccloud based platform exclusively for cryptocurrency arbitrage trading.\u201d It claims to allow the execution of arbitrage trading deals via all the major digital currency exchanges in a matter of minutes. In its statement, the MFSA confirmed \u201cthat Arb Signals Ltd is NOT a Maltese registered Company NOR licensed or otherwise authorised by the MFSA to provide any VFA related services or any other financial services which are required to be licensed or otherwise authorised under Maltese law.\u201d The regulator reminded consumers to only deal with entities after ascertaining that they are authorized to provide financial services by the MFSA or another reputable financial services regulator. \u201cThe activities of unlicensed entities are unregulated making transactions with such entities risky for consumers,\u201d it stated. Just days after the MFSA published the notice, Arbitly responded, denying ever claiming to be based or licensed in Malta. In its press release, the firm clarified that its physical headquarters have never been based in Malta. Rather, it had hired the virtual location in Malta for the mailing address, \u201cwhich is also to do with fulfilling the registration requirement of Malta sometime in the near future.\u201d Arbitly further claimed that being a digital currency services company, there\u2019s no need for physical addresses, especially since it functions as a cloud-based platform. In addition, the current global pandemic necessitates remote working to prevent the spread of the coronavirus. Despite the lack of licensing, Arbitly insisted that it\u2019s \u201ccompletely dedicated to adhering to all the rules and regulations in any location where it operates. If the prevailing laws of the land require having a physical structure, Arbitly is more than ready.\u201d The company didn\u2019t, however, give any indication as to whether it has been offering its services in Malta without obtaining the necessary licenses from the MFSA or if it had started the process of becoming licensed in the European country. In September, Arbitly announced that it had become incorporated in North America based on the laws of the state of Delaware. This incorporation made possible its operations and presence in the U.S. and Canada in the near future. On its website, it claims to have a registered address in Toronto, Canada.