Belize regulator IFSC One Life Network Limited Warning

Belize regulator IFSC One Life Network Limited Warning cautions investors against dealing with this entity. IFSC states that the firm lacks the trading license.

1 June, AtoZForex The financial regulator of Belize, International Financial Services Commission (IFSC) has issued an alert for investors in the country. Particularly, the warning from the regulator features the name of the company One Life Network Limited.

Belize regulator IFSC One Life Network Limited Warning

The Belizean watchdog has stated that One Life Network Limited is an International Business Company that is registered in Belize. However, the firm does not possess the appropriate license from the IFSC for carrying out the trading activities. According to the official announcement from the Belizean regulator:

“It has come to the notice of the International Financial Services Commission of Belize (IFSC) that an entity calling itself ‘One Life Network Limited’, an International Business Company registered in Belize, is conducting trading without first obtaining the required license from the IFSC.”

The One Life Limited has no registration or license from the International Financial Services Commission or any other competent authority in Belize. Therefore, the firm cannot conduct any type of trading business.

Also, the regulatory announcement states that One Life Network Limited is “directed to cease and desist from carrying on with the said unlicensed activities which constitute an offense under the laws of Belize.”

Global regulators warn against OneCoin

Reportedly, the firm is operating online via Moreover, one of the affiliated sites of the firm is digital currency company OneCoin.

Previously, a number of global financial regulators have warned about One Coin. Back in July 2016, the Financial Services and Markets Authority (FSMA) warned the public that neither OneCoin nor the persons promoting OneCoin have been recognized or authorized by the FSMA. The FSMA warned the public of the risks associated with virtual currencies.

The other warning about OneCoin came from the UK Financial Conduct Authority. The FCA warned investors against using services of OneCoin, as the company has no authority to operate int he UK.

The most recent OneCoin warning appeared in March 2017, when the Malta Financial Services Authority (MFSA) has red flagged the firm. According to the Maltese watchdog, the company is promoting a virtual currency OneCoin in Malta without MFSA’s authorization.

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