OneCoin responds to recent FCA warning

Two days ago the UK Financial Conduct Authority (FCA) stated that consumers should be wary of dealing with the software and technology company OneCoin.

OneCoin commented earlier today that is disappointed that the FCA has issued a statement without having first contacted the company. OneCoin claims that it has not been contacted by the City of London Police. No allegations of any wrongdoing have been put to OneCoin and the basis for and scope of any investigation has not been explained.

OneCoin is a global software and technology company, with offices in Bulgaria, Hong Kong and the United Arab Emirates, which has developed a cryptocurrency. It shares some features with other digital currencies, but has a unique centralised model, which includes maintaining a database record of each transaction and client and the implementation of Know-Your-Customer (KYC) rules.

OneCoin also shared that will co-operate fully with the authorities in pursuit of this objective.

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