It is possible to read all the press release issued today December 30th 2016 by the Competition and Market Authority (AGCM). Subtitle: The pyramidal sale that was believed to be a cryptocurrency.
What does the statement say about onecoin?
PYRAMIDAL SALES:
SUSPENDED BY CAUTELING
THE PROMOTION OF THE CRIPTOCURRENCY ONECOIN
Following the opening of a preliminary investigation procedure, the Antitrust Authority has adopted a precautionary measure against the company One Network Services Ltd., active in the sector of the promotion and dissemination of the OneCoin cryptomine, and of the two natural persons who had registered the sites linked to it onecoinsuedtirol.it and onecoinitaliaofficial.it (the third onecoinitalia.com following the start has been obscured).
The investigation, which originated from reports received by Consob and the association CTCU of Bolzano, corroborated by some pre-investigations carried out by the Special Antitrust Unit of the Guardia di Finanza, is aimed at ascertaining the incorrectness of the system conceived and managed by One Network Services Ltd. and its representatives in Italy. This system would seem to promote the adherence to a program of dissemination of the cryptomoneta OneCoin - linked to the purchase of training packages - that should allow consumers to obtain significant economic returns (for example, with an investment of € 140 a return is expected of 2800 euros in a two-year period).
From the evidence collected so far, it emerges that the representation of advantages, as well as highly uncertain, is actually functional to attract the entry of a large number of consumers, who are required a significant financial commitment, tracing a pyramidal sales system prohibited by law .
In the face of evidence demonstrating the topicality and diffusion of the "criptomoneta OneCoin" promotion activity, none of the professionals involved in the procedure provided adequate explanations and defenses to understand the verisimilty of the promised results, as well as the operation of the promoted system. .
Due to the adoption of the precautionary measure, in order to limit the damage to consumers pending the conclusion of the proceeding, the professionals will have to suspend any activity directed to the promotion and dissemination of the OneCoin cryptomonet as well as the related training packages.