The Central Bank said buying, holding or trading virtual currencies or other digital value units, also called cryptographic currencies, have many and large risks associated with them.
Since these providers of virtual currencies do not fall under the supervision of the CBCS or under any other regulator in Curaçao and/or St. Maarten, consumers are not protected when using virtual currencies and may be at a higher risk of losing their money.
For more information relative to virtual and crypto currency, visit http://www.centralbank.cw/warning-notice-virtual-currencies.
The entire CBCS article here:
CBCS warns consumers of One Life related entities
The Centrale Bank van Curaçao en Sint Maarten (“CBCS”) warns consumers about One Coin, One Life, One Life Banking System, and related entities, since these entities deal in virtual currencies, and are not supervised by the CBCS. Please note that buying, holding or trading virtual currencies or other digital value units, also called cryptographic currencies, have many and large risks associated with them. Since these providers of virtual currencies do not fall under the supervision of the CBCS or under any other regulator in Curaçao and/or Sint Maarten, consumers are not protected when using virtual currencies and may be at a higher risk of losing their money.
For more information relative to virtual and crypto currency, please visit the CBCS website http://www.centralbank.cw/warning-notice-virtual-currencies
CENTRALE BANK VAN CURACAO EN SINT MAARTEN May 23, 2017
Source: The Daily Herald https://www.thedailyherald.sx/rssfeeds/66241-cbcs-warns-consumers-of-one-life-related-entities
World currencies have lost 80% of their value since 2000, under the supervision of central banks. Banks have folded, are charging you for every possible transactions while barely giving you any interest on your savings. Wire Transfers are taking 3-10 days while online payment happens in a split second. If the banks don’t agree with the reason why i am transferring my money from one account to the other, they have the right to refuse. What type protection is that? This is why exactly crypto currency was invented. The days of this form of financial transactions are numbered