Share this article
German Regulators Order OneCoin to 'Dismantle Trading System'
Germany is stepping up its ongoing crackdown on OneCoin, a digital currency investment scheme widely believed to be fraudulent.
By Stan Higgins
Updated Sep 11, 2021, 1:16 p.m. Published Apr 28, 2017, 2:15 p.m.
Make us preferred on Google
Germany is stepping up its ongoing crackdown on OneCoin, a digital currency investment scheme widely believed to be fraudulent.
The German Federal Financial Supervisory Authority (BaFin) has issued new cease-and-desist orders to two holding companies connected to OneCoin – Onecoin Ltd, Dubai and OneLife Network Ltd – ordering them to "dismantle their internet based 'OneCoins' trading system" and to "end all sales promotion activities" in Germany effective immediately.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
OneCoin is an investment scheme centered around a purported digital currency, for which packages of "tokens" are sold that can later be exchanged. The operation has long been accused of operating a pyramid scheme, as participants are encouraged by advocates to find other buyers.
Notably, the regulator suggested that OneCoin promoters in Germany hadn't sought permission prior to conducting their activities, a determination that BaFin said spurred the latest cease-and-desist notices.
BaFin said it had issued a cease-and-desist notice to a third entity connected to OneCoin, One Network Services, for supporting the unauthorized sale of OneCoin in Germany.
The move indicates that Germany is accelerating its efforts to keep OneCoin out of the country. It comes just over a week after BaFin moved to halt the operations of a OneCoin-tied payment processor in Germany, freezing €29m in connected bank accounts.
But Germany isn’t the only country to crack down on OneCoin. Reports surfaced this week that authorities in India had arrested at least 18 individuals connected to the scheme.
A number of central banks have also issued warnings, including Thailand's, according to reports.
Image Credit: 4kclips / Shutterstock.com
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
How a 'perpetual’ stock trick could solve Michael Saylor’s $8 billion debt problem
The bitcoin treasury firm is using perpetual preferreds to retire convertibles, offering a potential framework for managing long-dated leverage.
What to know:
- Strive upsized its SATA follow on offering beyond $150 million, pricing the perpetual preferred at $90.
- The structure offers a blueprint for replacing fixed maturity convertibles with perpetual equity capital that removes refinancing risk.
- Strategy has a $3 billion convertible tranche due in June 2028 with a $672.40 conversion price, which could be addressed using a similar preferred equity approach.
Top Stories
