Switzerland And Australia Issue To AladinCoin Crypto MLM Regulatory Warning
AladinCoin has received regulatory warnings from Switzerland and Australia’s Financial Market Supervisory Authority (FINMA) on June 8th and added the platform to their warning list. FINMA also warned AladinCoin that it is not authorized to offer financial services – such as unregistered securities. Austria’s Financial Market Authority (FMA) also banned the platform from promotion and investment because it did not register with the FMA.
In addition to these developments, another platform reviewed AladinCoin and determined that it can be considered a ponzi scheme based on investment in non-publicly tradeable AIC points. Further, the platform has failed to register with a securities regulator in the jurisdiction that it operates in.