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BaFin follows FinTelegram issuing a Cease-and-Desist Order against Bitcoin Revolution!

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FinTelegram has repeatedly warned against the fraudulent crypto trading bots like Bitcoin Prime, Bitcoin Evolution, or Bitcoin Revolution and the marketing campaigns associated with them. The truth is that these crypto trading bots don’t even exist. They are fake constructions and the only real thing about them are the brands developed by the scammers and their marketing agencies with the aim of chasing clients for illegal brokers. Today, BaFin has issued a Cease-and-Desist Order against Bitcoin Revolution today. Finally!

In its investigation, BaFin found that customers can open trading accounts on one of the numerous platforms the alleged crypto trading bot Bitcoin Revolution (https://bitcoinrevolution.org) uses to subsequently transact Contracts for Difference (CFD) trades in cryptocurrencies and fiat currencies. Thus, Bitcoin Revolution operates a financial business that requires a license. Bitcoin Revolution – as well as the dozens of other fakes – do not have permission from BaFin.

FinTelegram has asked BaFin to take immediate action to prevent these unauthorized financial services from being advertised on Google. We are still waiting for this warning. Google‘s algorithms ensure that the Californian search giant knows everything on the internet. So it also knows that BaFin will be issuing warnings against Bitcoin Revolution in 2019. Moreover, Google UK & Ireland issued new rules regarding financial ads which prevent the operators of Bitcoin Revolution et al to publish fraud ads.

Google knows! That is beyond any reasonable doubt! Why Google still allows ads that promote this scam is legally inexplicable. And BaFin is legally obliged to take action against this Google Game.

CategoriesBaFin

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