The financial market authority (FMA), Austria has prohibited the Vienna-based company INVIA, to conduct their business. INVIA had offered its customers financial services in connection with the mining of crypto-currencies.
As the financial markets authority FMA in a press release announced, was the INVIA GmbH on Tuesday the 29. May the activity. The business model of the company is suspected of illegal management of an Alternative investment Fund (AIF). The business model of INVIA is to provide financial services in connection with the Mining of crypto-currencies.
According to the information in the press release has prompted the company to shift its business with immediate effect. In addition, the FMA has not confirmed that it is in the INVIA GmbH an authority authorised and regulated firm. Thus, the FMA is responding to numerous consumer inquiries.
What exactly is SEND?
INVIA World is an Austrian company that is in the crypto-Mining sector. From classic to Cloud Mining you don’t want to stand out by the fact that the customer decides which crypto is gemint currency. The company accepts the decision and is trying to dig is always in the Moment, the most lucrative crypto-currency. This approach is referred to as “Active Managed Mining”. The mined tokens are converted to Bitcoin or Ether, and to the customer distributed.
In contrast to the accusations on the part of the FMA INVIA claims to be in Austria licensed and to act in accordance with the articles of Association of the European regulation. According to the press release, the appropriate procedure is, however, still on the way and will bring in the near future results of the case.
The FMA is already a long time ago to what is Happening in the crypto scene closely, and companies that have to do with crypto transactions has, since then, in the eye. Towards the end of 2016, the authority issued a warning about crypto-currencies and crypto-references associated fields of business.