UK Financial Conduct Authority Issues Warning Against OneCoin
The UK’s Financial Conduct Authority (FCA), an independent public body that is accountable to Treasury and parliament, officially issued a warning against OneCoin operations. Earlier this month, the Swedish Bitcoin Foundation warned its cryptocurrency community and industry regarding the scam-like structure of OneCoin, a “pyramide” built on illegitimate cryptography and security measures. The FCA is the second important government-related public body in 2016 to launch an official investigation on OneCoin. Increasing Awareness of Scam-like Cryptocurrencies. Government agencies and....
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OneCoin has issued a response to the recent warning issued by the Financial Conduct Authority of UK, following an investigation into the digital currency by the London City Police. The recent warning issued by the Financial Conduct Authority of the United Kingdom against OneCoin has elicited a response from the company. OneCoin Limited, the company responsible for operating and maintaining the centralized digital currency has expressed its disappointment with the recent developments. The company in its latest release states that the FCA has issued the warning without enquiring with the....
Following the recent statement issued by the UK Financial Conduct Authority that warned users against trading or engaging in the alleged cryptocurrency scheme OneCoin, the company has said it is “disappointed” with the regulator’s statement. As the UK’s primary financial regulator, the Financial Conduct Authority (FCA) has previously granted licenses to the likes of bitcoin exchange and services Circle. Earlier this week, the regulator and authority issued a public statement, warning consumers against engaging or trading in OneCoin, an altcoin that has garnered controversy in the past.....
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