Facua denounces the crypto asset macro event this Saturday in Madrid. The organizing company defends that it does not need a license from the CNMV because it focuses on education and not investment
Financial beach bars, renowned economists, celebrities and prominent sponsors. These are the ingredients that have made the macro event of the year for the “crypto” community the center of controversy.
The Metaverse Day being held this Saturday at the WiZink Center in Madrid remains the focus of the National Securities Market Commission (CNMV), which this week recalled that the organizing company, Mundo Crypto, is on its so-called “grey list.” That is, those of entities that are not licensed in any way or that are registered with the regulator for any purpose “and that could carry out some sort of fundraising activity or provide a service of a financial nature.”
Quite a danger in the eyes of the CNMV, which, however, has only limited itself to reminding that “cryptocurrencies have relevant risks, can incur large losses, are not yet regulated and do not have an investment protection or guarantee mechanism”. He generally advises investors to be wary “of those who offer you quick returns or promises of profitability without alerting you to these high risks at the same time.”
More specifically, that of Facua, who has lodged a complaint with the Community’s Directorate-General for Trade and Consumption of Madrid to try to stop an event expected to be attended by more than 7,000 people. A record for the organizers of the meeting who, although promoted as free, asks 47 euros to reserve the seat. If someone ultimately decides not to attend, they will not get that ‘reservation’ back.
From Facua, they recall Article 87 of Royal Decree-Law 1/2007 of November 16, which approves the consolidated text of the General Law for the Defense of Consumers and Users and other additional laws, considers an abuse clause «the retention of sums paid by the consumer and the user for redundancy, without considering compensation of an equivalent amount if the employer resigns.
The same article also considers an abuse clause “the payment of amounts for services not actually rendered” […] or the determination of compensation which does not correspond to the damage actually caused».
Likewise, Mundocrypto gives to users who have reserved their ticket and attended the event that the 47 euros of the reservation will be returned “excluding management fees”. However, it is not stated anywhere how much these costs are, so participants cannot know in advance what amount will be reimbursed.
All the controversy surrounding the event was accentuated when Mundo Crypto founder Mani Thawani challenged anyone who considers cryptocurrencies to be a pyramid scheme to come to the event to debate with him. In a press conference, the young businessman returned to defend the formative nature of the meeting next Saturday. And regarding the fact that the company is not licensed to advise on financial instruments, he has defended that his company does not require a license as it is not a financial institution, nor does it sell or advise on financial instruments, but is dedicated to education. in the digital sector.
Mani Thawani assured Thursday that he was “hurt” by the “negative media attention” he has received and has claimed the company’s place as the right arm of regulators, while insisting that MundoCrypto works for the “responsible mass acceptance” of the cryptocurrencies.
The controversy has led to some artists and media figures who were initially supposed to participate in the event to decide not to attend, as is the case with the presenters Jorge Fernández and Cristina Pedroche, the actors Macarena Gómez or Pablo Chiapella and the artist Maikel. Delacalle.
As explained by Thawani, these types of personalities were invited so that the event, which lasted 7 hours, was “a little fun” and not “heavy” for the attendees, but in no case were the celebrities supposed to talk about cryptocurrencies.
Source: La Verdad
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
