Crypto Mining Platform Operations Stopped By Austrian Financial Regulator
On May 29th as per FMA press release the Austrian Financial Market Authority (FMA) has banned the business and industrial operations of a Vienna-based cryptocurrency mining company INVIA GmbH.
The company was told to stop operations on digital currencies mining on suspicion of illegal management of an Alternative Investment Fund (AIF). The ban procedure has not yet been adopted. The press release adds that INVIA is not controlled or licensed by the FMA.
In fact, INVIA World, the company behind INVIA GmbH, suggests mining of “profitable coins” such as Bitcoin and Ethereum via “intelligent mining system”, paying mining revenues to its users. On the contrary of the FMA’s statements, the company claims that it operates under EU law.
At the beginning of this month, US blockchain startup ShipChain was issued an order to terminate and waive the office of the Attorney General of South Carolina for violating the bylaws of government securities. It was believed that the ShipChain was not officially registered with the securities regulator as a broker-dealer, the company afterwards denied the claim.
Besides this month, a Texas-based Bitcoin Investment company issued an order to terminate and waive the Texas state Security Council for offering unregistered securities and making deceptive statements that mislead investors.