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The company was accused of violating Austrian law

Its activities decided to suspend the authorities.

30.May.18 5:51 AM
By Shawn Highstraw


The company was accused of violating Austrian law
The financial regulator of Austria ordered the investment company INVIA GmbH to suspend the work. As it turned out, the organization violated the Law on Banking Activities of the country. According to specialists of the FMA department, the company supported an alternative investment fund, which was not registered. At the same time, the State Financial Market Authority has not yet completed an investigation into INVIA GmbH. It is possible that the investigative measures will reveal other violations.

The mining company, caught in the sight of the Austrian authorities, reports that it produces only the most profitable digital currencies. For this, she uses a special patented algorithm. Tokens obtained in the course of its activity are converted into bitcoins or ether, after which they are received by investors.

FMA informs that the company for the production of crypto-currency has not passed the registration procedure, although it was obliged to do so. In addition, as noted above, she did not have a license to support alternative investment funds.

By the way, Austrian regulators rarely take prohibitive measures against crypto-currency companies. A similar case was covered in the press about a year ago.

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