Yeah, and you have to acknowledge how good they are at twisting and use words and hide behind, they are registered and incorporated, as any business can be, but they are not licensed to conduct that type of business there.
It's the same with all those scams with a business registered in Estonia or in UK, they are registered but they are not allowed to conduct that business by the FCA, just like I can register a company with all the papers but I can't start digging for oil or coal or sell food without the other permits.
They are just playing around with the terminology and they know for sure most users don't care and even if they would most of them would be tricked by it, the ones that are actually doing proper research would have never thought of dealing with them in the first place.