Italy penalty a fine of € 2.5 million to OneCoin

Given that it's now clear that OneCoin is a pyramid scheme, the Italian government has accused the company of paying € 2.5 million. While Hungary and other countries have rarely banned or brought OneCoin to court, Italy has taken the lead in this and is the first country to adopt stricter positions towards the company.

This seems to be the first instance of a government (here in Italy), through the Anti-Uncertainty and Customer Aid Management (AGCM) Office, to prosecute a company that has been targeted at many people altogether As it has emerged in the recently encrypted currencies.

OneCoin initially seduced a lot of people by introducing itself as a digital currency and pledging them to high profits. However, recently, in recent months, with the revealing of their fraudulent methods, OneCoin was found to be just a scam.

By the end of 2016, the OneCoin domestic exchange, xCoin, was closed, and the money of those who had invested in this kVain was stolen. This has led many countries to intervene to support and support their citizens. As mentioned above, Hungary sought to bring the company to court, and the Germans began their criminal investigations.

Italy also announced in December last year that it would continue its investigation into the Quinn, and warned other companies to stop advertising it.

Since the start of the investigation late last year, the ACGM of Italy in February imposed a ban on OneCoin in the country and announced this digital currency as a Ponzi scheme.

OneCoin rejected these findings from the research, and even tried to deny that it had advertised its design in Italy. But they eventually banned their activities in late February, and they were given 10 days to announce how they plan to stop advertising in the country.

When they did not respond and deadlines expired, AGCM warned that they would face a fine of 10,000 to 5 million euros for non-response. It is not known if they responded to this warning, but eventually, on August 10 this year, the ACGM condemned the company to pay € 2.5 million.

"The evidence shows that the definitions and promotions related to OneCoin and its benefits are completely seamless and unsupported, and only to attract customers who should be invested in the registration," AGCM said.

This is similar to a pyramid selling system that is prohibited by law.

End of work for OneCoin

With public announcements and news related to OneCoin, the currency has become a scam in the public eye, but with more government taking legal action against it, the time of the death of the currencies and swindlers are ahead of it. .

@haji