Swedish Police Close OneCoin Investigation

Stocks and Financial Services Press Releases Monday March 20, 2017 11:27
SOFIA, Bulgaria--20 Mar--PRNewswire/InfoQuest
The Swedish Gaming Authority has confirmed that an enquiry by the Swedish Police into the OneCoin cryptocurrency and its associated multi-level marketing business, OneLife, has now been closed.
(Logo: http://photos.prnewswire.com/prnh/20161201/444679LOGO )

The Swedish Police issued an official decision on the case on February 6th 2017, stating that the preliminary investigation has been discontinued. The Police statement indicated that there was no basis upon which to continue the investigation as there was no reason to believe that an offense had been committed. The Police confirmed its decision to the Gaming Authority on March 1st 2017.

OneCoin stated: "We have been aware for some time of unfair competition practices against OneCoin and OneLife, which have included serious though demonstrably false allegations which have raised understandable concerns. Where these have resulted in formal enquiries or investigations, we have been happy to cooperate fully with the authorities concerned, confident in the knowledge that the facts would prevail. This is the second such occurrence in which an investigation by a regulatory authority has confirmed there to be no findings of illegitimate dealings in our business, and of course we welcome the prompt and professional manner in which the Swedish Police have conducted their enquiry."

OneCoin is a digital currency, based on cryptography and created through a process called 'mining'. Just like the serial number on a paper bill, each digital coin is unique. Unlike money issued by governments, there is a finite number of OneCoins, ensuring they cannot be affected by inflation and are impossible to counterfeit. Because cryptocurrencies are not tied to any particular country or central bank, the value of the coin depends on factors such as usability, demand and supply.

Source: OneCoin

Latest Press Release

Fitch Affirms SCB Asset Management at #Excellent(tha)#

Fitch Ratings (Thailand) Limited has affirmed Thailand-based SCB Asset Management Co., Ltd's (SCBAM) National Investment Management Quality Rating (IMQR) at 'Excellent(tha)'. The Outlook is Stable. KEY RATING DRIVERS SCBAM's National IMQR reflects its...

Aaron System launches #Aaron Platform (Everycoin and TabiPay) via Blockchain 3.0 Technology.

Aaron System Company Limited (Aaron System), a financial platform business, launched 'Aaron Platform' (Everycoin) via the blockchain 3.0 technology. The Main Blockchain is 'Everycoin,' which is a currency with liquidity. The ultimate goal is to be a hub...

Photo Release: SCB VDO content grabs 3 awards at Asias Customer Experience in Financial Services Summit and Awards 2018 event

Siam Commercial Bank (SCB), represented by Senior Vice President and Head of Social Media & Digital Content Division Junphen Juntana, recently joined theCustomer Experience in Financial Services Awards 2018 ceremony held in Singapore. At the event,...

ภาพข่าว: ธนาคารไทยพาณิชย์ คว้า 3 รางวัลยอดเยี่ยมระดับภูมิภาคเอเชีย ในการสร้างวิดีโอคอนเทนต์จับใจลูกค้า

ธนาคารไทยพาณิชย์คว้า 3 รางวัลยอดเยี่ยมระดับภูมิภาคเอเชียจากงาน Customer Experience in Financial Services Awards 2018 ครั้งที่ 4 ในหมวดรางวัล รางวัล Best Brand Engagement, Best Use of Social Media และ Best CX Business Model จากผลงานวิดีโอคอนเทนต์ชุด...

HSBC LAUNCHES DIGITAL TRADE TRANSACTION TRACKER

HSBC today launched the Trade Transaction Tracker, a mobile application (app) feature which will enable corporates to track their trade transactions on a real-time basis. This feature is built into the existing HSBCnet Mobile Application and the...

Related Topics