Australian regulators have taken legal action against the operators of cryptocurrency Qoin, alleging that the business behind the scheme made several misleading statements about the coin. Announcing that it has commenced civil penalty proceedings in the Federal Court of Australia, the Australian Securities and Investments Commission (ASIC) said more than 79,000 consumers may have believed Qoin complied with financial services laws when, according to ASIC, it did not. Qoin, which is operated by BPS Financial, was launched in 2020 by co-founders Raj Pathak and Tony Weise. According to the compa ...
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