OneCoin warning issued by Latvian Consumer Rights Protection Center
Citing previous OneCoin pyramid scheme warnings from Latvia’s Financial and Capital Market Commission, the government’s Consumer Rights Protection Center has today issued their own warning.
The Financial and Capital Market Commission (FCMC) has repeatedly warned against involvement in OneCoin, which at the discretion of the FCMC is modeled after financial pyramid principles.
We remind people that unlicensed merchants and other similar formations are not nationally monitored and interests of the population hence are not protected.
Unlicensed business, calling for investment or attracting deposits or other repayable funds is a criminal offense.
The CRPC’s OneCoin warning was issued on January 17th, 2017.
Along with the two previous FMPC warnings, it marks the third OneCoin regulatory warning issued in Latvia.