Georgia Department of Banking and Finance
03/27/2025 | Press release | Distributed by Public on 03/27/2025 15:01
Order to Cease and Desist Issued to WEEX International Exchange LTD d/b/a WEEX Becomes Final
March 27, 2025
Order to Cease and Desist Issued to WEEX International Exchange LTD d/b/a WEEX Becomes Final
Atlanta, Georgia - On March 27, 2025, an Order to Cease and Desist ("Order") issued by the Georgia Department of Banking and Finance ("Department") to WEEX International Exchange LTD d/b/a WEEX became final.
The Order to Cease and Desist was issued by the Department after it obtained evidence that WEEX International Exchange LTD d/b/a WEEX engaged in money transmission by operating an online virtual currency trading platform in Georgia without a valid license or under an applicable exemption in violation of O.C.G.A. § 7-1-681.
Pursuant to O.C.G.A. § 7-1-681(b), Georgia law prohibits any person from transmitting money or monetary value, including virtual currency, within the United States or to locations abroad by any and all means without having first obtained a money transmitter license or pursuant to an exemption from licensure under O.C.G.A. § 7-1-682.
Contact:
Dominique Williams
Deputy Commissioner for Non-Depository Financial Institutions
Phone: (770) 986-1371
E-mail: [email protected]
Related Files
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WEEX International Exchange LTD Final C&D 3.27.25 (PDF, 292.04 KB)
Georgia Department of Banking and Finance published this content on March 27, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on March 27, 2025 at 21:01 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]