OneCoin Responds to FCA Warning and Police Investigation
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....
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The Financial Conduct Authority, citing an investigation by the City of London Police, has issued an official warning, urging users to be wary of trading with the altcoin, OneCoin. In an official warning published yesterday, the Financial Conduct Authority in London has sought to inform users against the trading of OneCoin. The altcoin, which is notably based on a centralized system unlike other cryptocurrencies like Bitcoin, Ether or Monero, has frequently seen accusations of being a pyramid-scheme in the past. The FCA warning read: We believe consumers should be wary of dealing with....
The FCA has warned UK citizens to refrain from trading OneCoin as the London police starts investigation. OneCoin, a centralized digital currency operated and managed by the OneCoin Limited is under investigation. The Financial Conduct Authority (FCA) of United Kingdom has warned the general public to refrain from trading OneCoin for fiat or other digital currencies. All digital currencies aren’t made equal. The introduction of Bitcoin led to a debate concerning the legitimacy and trustworthiness of a decentralized digital asset, not governed by a single company or an organization. While....
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.....
The Seychelles Police Financial Crime Investigation Unit (FCIU) recently confirmed receiving a request for an investigation into several transactions linked to the transfer of 230,000 bitcoins. The cryptocurrency is said to be associated with pyramid scam Onecoin. Onecoin Loot in Dubai Besides investigating the transfer of the crypto assets, the probe is expected to examine transactions involving cash and property worth $10 billion. According to the Seychelles News Agency, the FCIU’s receipt of the request for an investigation follows the recent discovery of “up to $500....
Indian police have said OneCoin is a “clear Ponzi scheme” as they prepare to charge original figurehead Ruja Ignatova and others. In reports relayed by local news source Indian Express, Tushar Doshi, Deputy Commissioner of Police in Mumbai, said that so far 23 people were arrested in connection with OneCoin operations in India. “In this sort of scheme, investors become the perpetrators as well as victims. It is clear that this is a Ponzi scheme,” he told the publication. Doshi’s comments are the most direct suggestion yet from official sources that OneCoin is a Ponzi scheme, the outfit....