The Italian monetary regulator CONSOB has briefly suspended promotion of LiraCoin Membership in Italy.
In a broadcast Might twenty ninth bulletin, CONSOB states LiraCoin Membership’s MLM alternative constitutes an funding proposal.
Providing an funding proposal is the equal of a securities providing, which in Italy requires corporations to register the providing with CONSOB beforehand.
LiraCoin Membership failed to take action, and so CONSOB has suspended promotion and funding of LiraCoin Membership in Italy for ninety days.
The suspension applies to LiraCoin Membership, LiraCoin and mum or dad firm Liracoin DAMO.
CONSOB states it has briefly suspended LiraCoin Membership promotion as a “precautionary measure”.
LiraCoin Membership has sixty days to attraction the choice, failing which it’s anticipated to be made everlasting after 90 days.
BehindMLM reviewed LiraCoin Membership On Might twenty fifth.
LiraCoin Membership’s enterprise mannequin, which sees associates put money into LIC tokens on the promise of an marketed ROI, we concluded it was simply one other BitConnect lending Ponzi clone.
For our efforts two days in the past we obtained a stop and desist from “Tom Williams”, who claimed to signify “LiraCoin Damo Group”.
Williams (who I’m fairly certain doesn’t exist), claimed our assessment
comprise [sic] severe, unfaithful and extremely defamatory feedback in direction of LIRACOIN DAMO ORGANIZATION.
So as to defend LIRACOIN DAMO ORGANIZATION pursuits we’re contemplating proceedings in opposition to you within the Excessive Court docket in Europa and USA.
As is typical of authorized threats despatched by scammers, Williams did not determine a single inaccuracy in our assessment.
I responded as a lot however as of but haven’t heard something again.
Whether or not Williams and LiraCoin DAMO Group despatched CONSOB an analogous stop and desist is unclear.