Belgian Regulators Issue Warning About OneCoin Investment Scheme
A top financial regulator in Belgium has issued a warning about OneCoin, a digital currency product that has frequently drawn fraud accusations. The notice, published this weekend, states that remarks from promoters that OneCoin has received the institution's tacit approval are "false and misleading". Despite the claims, the Financial Services and Markets Authority (FSMA) said that it had no regulatory powers to speak of in relation to digital currencies, and the note itself constitutes little more than a warning about getting involved with products like OneCoin. The notice....
Related News
The Belgian Financial Services and Markets Authority has issued a warning about a lesser-known altcoin called OneCoin, to the effect that certain OneCoin promoters are lying about their recognition and relationship with the Belgian authority. A press briefing published on their website reads, in part: Certain people have recently been promoting OneCoin, said to be a virtual currency based on cryptography, in Belgium. The FSMA wishes to warn the public that OneCoin has not received any form of recognition whatsoever from the FSMA. The same is true of the persons who are promoting OneCoin:....
Regulators in Italy have moved to suspend the operations of several affiliates of OneCoin, the digital currency investment scheme widely accused of being fraudulent. Late last month, the Italian Antitrust Authority, a quasi-autonomous non-governmental organization that focuses on consumer protection, said that it had ordered the "precautionary suspension" of the efforts, led by three unnamed individuals. The Antitrust Authority is funded by Italy’s Ministry of Economic Development. The Antitrust Authority said that its investigation of OneCoin – which accelerated in December with....
The Swedish Bitcoin Foundation released an official statement regarding OneCoin, a cryptocurrency Ponzi scheme that has been around since early 2015. Mats Henricson, the chairman of the Swedish Bitcoin Foundation, wrote in an official statement that the organization believes OneCoin is a fraud and that users who are relatively new to digital currencies and the cryptocurrency industry must be cautious when approaching OneCoin-related programs. Henricson said: “OneCoin has grown immensely large and billions have been put into this phenomenon. But OneCoin is not like the other crypto....
The clampdown on OneCoin has intensified as Germany and Hungary initiate fresh moves to bring down the investment scheme that is widely believed to be fraudulent. The claims of OneCoin. Taking advantage of the early stages of development of digital currencies, OneCoin is widely believed to have built a very large community of followers by making bogus promises of return on investment. With its claims of becoming the next big thing on the Internet and becoming the biggest cryptocurrency, with specific reference to conquering Bitcoin, followers of OneCoin have invested huge sums of money....
Belgium has issued a formal warning against OneCoin, the suspected ponzi scheme, which has already received criticism from throughout the cryptocurrency community. OneCoin Claims ‘False,’ Says Belgium Watchdog. In a release Friday, the country’s Financial Services and Markets Authority (FSMA) stated that neither OneCoin nor its promoters “have been....