Nigeria Warned its Citizens About Onecoin and Bitcoin This Week
Local advertisements for OneCoin and other digital currency investments have drawn the ire of Nigeria’s top securities regulatory. In a statement published yesterday by the Nigerian Securities and Exchange Commission (SEC), the regulator warned that potential investors should "exercise extreme caution" in light of radio advertisements and other sales pitches made for OneCoin, bitcoin and types of digital currencies. The agency said in a statement: "The Commission wishes to alert the public that none of the persons, companies or entities promoting cryptocurrencies has been....
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Recently, the Bank of Uganda has warned citizens against investing in cryptocurrencies, putting Onecoin and Bitcoin in the same trash buсket. What is behind the positions of governments of developing countries like Uganda and Nigeria? Before Uganda, such warnings have come out of some other developing countries like Nigeria. So today in Nigeria a lot of individuals now take extra care when making transactions in local banks for Bitcoin-related products or services. Users most often clearly advise depositors not to include such in the description of the purpose of a transaction, so as to....
This past week the Securities and Exchange Commission (SEC) of Nigeria has warned its residents about virtual currency investments. The agency’s warning has bundled bitcoin investment with two Multi-Level-Marketing (MLM) operations well known for deceptive activities. The Securities and Exchange Commission of Nigeria Conflates Bitcoin Investment with MLM....
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....
The Securities and Exchange Commission in Nigeria has issued a public notice in which caution is advised with regards to ‘cryptocurrency’ investments. WARNING: Cryptocurrencies Ahead. The Securities and Exchange Commission in Nigeria has issued a warning regarding investing in Bitcoin, Swisscoin, and Onecoin. The public notice seeks to alert the public regarding the risk posed by cryptocurrencies following solicitations of the public to invest. The notice reads: The attention of the Securities and Exchange Commission […] has been drawn to radio advertisements and other modes of....
On October 1, OneCoin, a self-declared cryptocurrency and trading venture based out of Bulgaria, has announced at a conference in Bangkok, Thailand that it switches to the “new Blockchain”, “transferring coins” from the old one to the new one. OneCoin has been in focus of Cointelegraph for some time. Recently the authorities of the UK and Sweden has warned investors that OneCoin is suspected to be a pyramid scheme with no verifiable evidence to back up any of its business claims. According to Tim Tayshun, CEO of Ezcoin, OneCoin is pure fraud and deception. He gave Cointelegraph his version....