The Italian securities regulator has added crypto company Togacoin to its scam blacklist.
The Italian securities regulator, Commissione Nazionale per le Società e la Borsa (CONSOB), has added crypto company Togacoin to its scam blacklist on Jan. 28.
The regulator released its warning against Togacoin alongside similar warnings concerning binary options company Smart Choice Zone and forex exchange Fx Breeze. The three firms have been added to the CONSOB’s warning list because of failing to obtain authorization to operate in Italy.
Togacoin’s website features a “Revenue Calculator” that promises a return of 239% in one year, a 654% return in three years and a 33-page white paper. The website also outlines the company’s plans to become part of “a new generation of mining operations, which is climate-friendly, less subject to the fluctuations of energy price and, finally, more profitable and safe.“
As Cointelegraph reported in December last year, CONSOB suspended two other projects for purportedly offering fraudulent crypto investment schemes. Namely, the regulator suspended the Bitsurge Token and Green Energy Certificates, which are allegedly scam projects from Avalon Life, a company that is not based in the European Union.
During the same month, the CONSOB also issued a cease and desist order to crypto project Avacrypto. The month before, the regulator sent similar orders to other three crypto-related companies: Richmond Investing, Cryptoforce and Eagle Bit Trade.
Source: , CoinTelegraph
Articles listed with Cash Tech News as the author are either general information, or may have been imported from another website, to bring our readers a rich media experience that encompasses articles that we find interesting, as well as those curated by others.
The views and opinions expressed here are for informational purposes only, and should not be confused with professional financial advice. These opinions are solely those of the author and do not necessarily reflect the views of CashTechNews.com. Every investment and trade involves risk. You should conduct your own research, and contact your professional financial advisor before making any investment.
Corrections, feedback, and ideas should be submitted through the website contact form.