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This Fintech Repays 60% of Customer Funds After License Revocation, Sets Year-End Deadline
- Conotoxia announces a settlement plan offering full refunds plus interest to customers affected by its license cancellation.
- Cinkciarz.pl's brand is also seeking to sue the local regulator and almost a dozen of banks for alleged "conspiracy"
Tuesday, 19/11/2024 | 09:40 GMT by
Damian Chmiel
The Regulator Revoked Their License, They Took It to Court: Cinkciarz.pl Battles KNF
- Polish fintech Conotoxia challenges regulatory license revocation, arguing that KNF's decision threatens customer interests.
- The company claims the regulator's sudden change in stance on fund handling could harm service users.
Monday, 18/11/2024 | 08:41 GMT by
Damian Chmiel
CySEC Alerts CIFs to UKNF Restrictions on Referral and Affiliate Programmes
- The regulator urges CIFs to comply with the UKNF's October 2023 position on referral practices.
- The UKNF states that only investment firms or their tied agents are authorized to perform client acquisition tasks.
Tuesday, 12/11/2024 | 12:27 GMT by
Tareq Sikder
Fintech Giant Claims Banks Blocked Transfers for 14 Years in Market-Share Fight
- Cinkciarz.pl accuses banks of systematically blocking $300 million in funds over a decade.
- The company has filed complaints with multiple regulatory bodies and seeks criminal investigations against bank executives.
Monday, 04/11/2024 | 10:41 GMT by
Damian Chmiel
Polish KNF Decision Pushes Conotoxia Into Investment Hunt
- Cinkciarz.pl brand operator is in “advanced talks” with international investment funds.
- The company plans to challenge the KNF decision while simultaneously pursuing legal action against local banks.
Wednesday, 23/10/2024 | 12:35 GMT by
Damian Chmiel
Cinkciarz.pl and Conotoxia Plan to Sue 10 Banks for a Total of 6.5 Billion Zlotys
- Citibank and PKO BP have just joined the growing list. They are allegedly accused of collusion.
- Moreover, the Polish fintech giant claims that the local market watchdog "violates the law" and its regulations "destroy" companies.
Tuesday, 15/10/2024 | 07:22 GMT by
Damian Chmiel
Conotoxia Alleges Polish KNF “Violates the Law” and Regulations “Destroy” Companies
- The local fintech giant is challenging the financial regulator's decision to revoke its payment services license.
- It claims the watchdog's actions could disrupt services for 100,000 users and cause billions in damages.
Monday, 14/10/2024 | 07:20 GMT by
Damian Chmiel
Poland Fines PayPal $27.3M over Ambiguous User Agreements: Report
- The Office of Competition and Consumer Protection found PayPal's terms ambiguous, making it hard for users to understand prohibited activities and penalties.
- This ambiguity reportedly allows PayPal the discretion to block accounts without clear justification.
Monday, 15/07/2024 | 18:51 GMT by
Jared Kirui
CoinEx's VASP Authorization in Poland Targets European Crypto Market
- Established in 2017, the firm is catering to over 5 million users worldwide, spanning 200 countries.
- A proposed law in Poland will allow the KNF to freeze crypto accounts for up to 96 hours.
Monday, 13/05/2024 | 12:19 GMT by
Tareq Sikder
Exclusive: Scammers Impersonate Binance, but the Exchange Says There’s Nothing It Can Do
- Fraudsters are offering fake cash prizes in official SMS threads from the crypto exchange.
- Binance responds it "seems unrealistic" to eliminate this type of phishing attempt.
Monday, 15/01/2024 | 11:32 GMT by
Damian Chmiel
Currency One Challenges Cinkciarz.pl's Court Victory with Planned Appeal
- Two major Polish online currency exchanges have been engaged in a legal battle for ten years.
- The latest decision supported Cinkciarz.pl, but Currency One disagrees and will appeal.
Wednesday, 31/05/2023 | 09:40 GMT by
Damian Chmiel
As Polish CFDs Market Explodes, So Do Client Losses
- Almost 72,000 Poles traded FX/CFDs in 2022. Overall polish brokers had 143,000 active clients.
- The Polish retail FX/CFD market achieved record turnover and number of retail traders compared to the previous year.
Tuesday, 04/04/2023 | 14:36 GMT by
Damian Chmiel
OANDA Moves European Operations Base to Poland
- OANDA acquired Poland's TMS Brokers in 2021.
- It now closed operations in Malta.
Friday, 17/03/2023 | 06:06 GMT by
Arnab Shome
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