Everyone in the cryptocurrency world has come across the name OneCoin at some point. While this MLM company claims to be perfectly legit, they are attracting attention from governments all over the world. Multi-level marketing companies can be legitimate, but OneCoin is raising a lot more questions than answers.
OneCoin is on The Belgian FSMA Radar
The Belgian Financial Service and Markets Authority has issued an official warning regarding OneCoin. The regulator clearly states the MLM company, nor its staff is officially recognized or authorized. It appears as if this movement is gaining a lot of traction in Belgium as of late, and the government wants to crack down on these potential scams sooner rather than later.
Conducting a Google search for OneCoin will yield some mixed results. Most people view this company as a multi-level marketing scam, and they are probably right. However, there are also a lot of people who claim they have gotten paid in the past. That is only to be expected, as long as new members continue to join the program.
Unfortunately, it is difficult for the FSMA to enforce any regulation