Austrian financial regulator FMA has issued a warning regarding Vienna-based cryptocurrency firm coin.zone GmbH. The company also operates website diecoinzone.com.
The FMA warned investors against the conclusion of banking transactions requiring a license with this provider.
The warning had to do with the company engaging in unauthorized money lending activities.
The text of the FMA’s warning follows.
Pursuant to Article 22c para. 1 no. 2 of the Financial Market Authority Act (FMABG – Finanzmarktaufsichtsbehördengesetz), the Austrian Financial Market Authority (FMA) may in imposing a sanction that has been imposed as a result of breaches of among other provisions Article 98 para. 1a of the Austrian Banking Act (BWG – Bankwesengesetz), disclose the name of the persons or entities upon whom a sanction has been imposed, as well as information about the sanction imposed.
By publication in the official gazette “Amtsblatt zur Wiener Zeitung” of 16.05.2020, the FMA hereby informs, that
Tel:+43 664 34 868 34
Web: www.diecoinzone.com (Link to external page. Opens in new window.)
Was instructed in an administrative decision dated 19.03.2020 to cease to conduct its unauthorised business of the conclusion of money-lending agreements and the extension of monetary loans pursuant to Article 1 para. 1 no. 3 BWG (lending business).