The corporate watchdog has launched legal action against the company that owns Gold Coast-based digital currency Qoin, alleging it made false, misleading or deceptive representations to almost 80,000 users. Key points: ASIC has commenced civil penalty proceedings against BPS Financial Limited The director of BPS says the company will defend the matter ASIC says 79,000 people or businesses have been …
A drawn-out class action against the digital currency Qoin may soon reach a close, with those alleging misleading conduct required to pay security for court costs as a condition of continuing their claim. Key points: Court proceedings have been stayed with the class action required to provide security costs of $750,000 by 4pm on October 7 The class action claims …
A potential class action planned against Gold Coast digital currency Qoin has been dismissed by its governor following months of criticism about the company's future. Key points: Salerno Law has released a potential claim against Qoin and the digital currency's parent company BPS Financial Limited Qoin claims to have more than 38,000 validated merchants using its currency The BPS director …
The Gold Coast cryptocurrency Qoin has rejected concerns raised about its transparency after it was expelled from the peak industry body, Blockchain Australia. Key points: Blockchain Australia has terminated the membership of the cryptocurrency Qoin, which claims to have 28,000 'validated merchants' Former Blockchain Australia board member says unlike other cryptocurrencies, Qoin is traded in a 'closed' system But Qoin …