The Malta Financial Services Authority (“MFSA”) has become aware of the website https://www.onecoin.eu/en/ and a Facebook page entitled “OneCoin Malta” which are promoting what appears to be a virtual currency by the name of “OneCoin” and are offering a range of services, including the opportunity to invest in, mine, trade, use and benefit from the value of OneCoin.

The MFSA hereby informs the public that OneCoin is not a currency issued by any Central Bank or by any other public authority. Furthermore the promotors of OneCoin are neither regulated nor authorised by the MFSA.

In this context the MFSA makes reference to a news item published by the UK Financial Conduct Authority entitled “Beware trading virtual currencies with OneCoin” which may be accessed on https://www.fca.org.uk/news/news-stories/beware-trading-virtual-currenciesonecoin and also to a warning published by the European Banking Authority entitled “Warning to consumers on virtual currencies” which may be accessed on: https://www.eba.europa.eu/documents/10180/598344/EBA+Warning+on+Virtual+Currencies.pdf

The MFSA is concerned about the risks that OneCoin poses to consumers and therefore strongly advises the public and consumers of financial services to exercise extreme caution.

Prior to making any investment decision or entering into any financial services transaction consumers should ascertain that the entity with whom they are dealing is authorised by the MFSA or another financial services regulatory authority as applicable.

A list of entities licensed by the MFSA is available from the MFSA and can be viewed on the official website of the MFSA at http://www.mfsa.com.mt/pages/licenceholders.aspx.