Crypto investing by Kaj Linna Ojfan lacks registration and Finansinspektionen, FI does not oversee the business.
The authority has issued a warning for investing in cryptocurrencies.
Consumers should be very careful, says Per Nordqvist, deputy director of operations.
Eyelids’ association with convicts is wrong and Lina As president, he attracts low-income earners with promises of financial freedom and a “private electronic wallet.”
The organization is associated with the crypto platform Hyperfund. According to many experts, the fund is a pyramid scheme that can collapse at any time.
british watchdog authority The FCA issued a warning regarding Hyperfund:
“This company does not have our permission and is targeting people in the UK,” the statement said.
“If something goes wrong, you are unlikely to get your money back.”
“Not subject to registration”
However, Hyperfund did not end up in Swedish Finansinspektionens Warning list.
All companies that engage in financial activities must be registered with the Swedish Financial Supervisory Authority. However, Ojfan classifies itself as an association, and there is no registration with the FI.
When it comes to managing other people’s money, an assessment should be made of each player to determine if registration is required, says Per Nordqvist, the authority’s vice president of banking district.
Crypto-asset storage is not necessarily subject to registration at this time.
Kaj Linna states that Ojfan is not covered by any registration requirement.
– We are not a financial institution. We are a club that rewards its members.
‘The stakes are high’
Earlier this year Finansinspektionen خرج exit He urged small savers to be very careful when it comes to cryptocurrency investments.
“FI would like to state that cryptocurrency-based products are not suitable for most, if not all, consumers,” the authority wrote.
“The stakes are high and the protections for you as a consumer are weak.”
Promising big profits without risk is a special warning bell, according to Beer Nordqvist.
If it sounds too good to be true, it usually isn’t true, he says.
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