The accusations concern the dissemination of false information about the approval of the activities of the Kanga Exchange by the Polish Financial Inspectorate and the Polish origin of the exchange.
The Polish Competition and Consumer Protection Authority (UOKiK) has filed a case of dissemination of false information and violation of the collective interests of consumers against Good Solution, the operator of the Kanga Exchange cryptocurrency exchange.
According to the agency, the Kanga Exchange unreasonably positions itself as a national cryptocurrency exchange, the activities of which are controlled and regulated by the Polish supervisory authorities.
“Kanga Exchange is operated by Good Solution based in Belize. In this regard, the law enforcement practice that determines the relationship between users and the exchange is based on the laws of Belize. Kanga Exchange did not receive permission from the Polish Financial Inspectorate to operate in the country. Its activities are not under the control of the Polish supervisory authorities, and the provision of deliberately false information misleads consumers about the legality and safety of the operations performed,” UOKiK said in a statement.
Consideration of the UOKiK claim regarding the Kanga Exchange has been transferred to the Warsaw Prosecutor’s Office. If allegations of violating the collective interests of consumers are confirmed, then Good Solution can be fined up to 10% of the total volume of transactions.
Recently, the Thai Securities and Exchange Commission (SEC) initiated an investigation into the Zipmex exchange. Local authorities believe that the company’s actions violate the law on digital asset service providers.
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