Belgian Watchdog Issues Warning Against OneCoin

Belgium’s Financial Services and Markets Authority (FSMA) has issued a warning to the public that neither OneCoin nor the persons promoting OneCoin have been recognized or authorized by the regulator. The FSMA says that certain people have recently been promoting the cryptocurrency in Belgium.

Several online reports and posts in Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term trading forums refer to the Bulgarian-created venture OneCoin as a multi-level marketing (MLM) scam. There are no specific rules governing Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term in Belgium that the FSMA could enforce against scammers other than raise the alarm for the public. The watchdog warns investors that OneCoin has not received any form of recognition whatsoever from the FSMA. The same is true of the persons who are promoting OneCoin: they do not hold authorization or any other form of recognition from the regulators.

The warning also specifically mentions claims made by Mr Laurent Louis’ on his Facebook page in French, namely, that the FSMA had stated that it “n’avait rien trouvé à redire sur le OneCoin” (unofficial English translation: “that it had nothing to say about OneCoin”) and that “pour la FSMA, le OneCoin ne pose aucun problème et n’est nullement illégal ni une arnaque” (unofficial English translation: “for the FSMA, OneCoin does not pose any problems and is neither illegal nor a fraud”). It said that there statements are false and misleading. The warning says these claims suggest or imply that the operations in OneCoin are carried out under conditions laid down by the laws and regulations which the FSMA enforces, whereas in fact these laws and regulations do not apply to such operations.