OneCoin warning issued by Central Bank of Curaçao and Sint Maarten
The latest regulator to issue a warning against investing in OneCoin is the Central Bank of Curaçao and Sint Maarten.
The warning, issued on May 23rd, applies to OneCoin, OneLife and the “OneLife Banking System” (believed to be the closed xCoinx exchange).
The bank warns that neither OneCoin or OneLife are “supervised by the CBCS”, and that ‘consumers are not protected when using virtual currencies and may be at a higher risk of losing their money.‘
Curaçao and Sint Maarten are island constituent countries belonging to the Kingdom of the Netherlands. Both are situated off the northern South American coast and have estimated populations of 159,000 and 8,100 respectively.
OneCoin and OneLife are currently operated from Bulgaria and Dubai. Despite regulatory warnings issued from over a dozen countries in the past year, regulators in either country have yet to take action.