The Comision Nacional de Valores has issued a Crowd1 securities fraud warning for Paraguay.
The CNV is Paraguay’s prime monetary regulator. On February twenty sixth the regulator issued a public warning, advising towards Crowd1 funding.
The CNV identifies Crowd1 as a securities providing. The regulator notes Crowd1 just isn’t registered with the CNV and due to this fact operates illegally.
Additionally it is unlawful to advertise unregistered securities. Promoters of Crowd1 in Paraguay resist three years imprisonment or a wonderful.
The CNV’s warning follows a Ponzi scheme ban issued by Namibia final week. One among Crowd1’s claimed gaming companions has additionally acknowledged it has no cooperation with the corporate.
Based mostly on web site visitors estimates offered by Alexa, South Africa is the biggest supply of Crowd1 funding.
Up to now South African authorities have did not take any motion towards the corporate or native promoters.