Karat bars threatens penalty | INVESTMENT

What happens next in the case of the banned cryptocurrency Karat Gold Coin (KBC)? According to “Handelsblatt” trade keep running the Gold Coin in Germany despite BaFin ban. At the request of the Financial INVESTMENT informed that the arrangement does not entrepreneurs Harald Seiz concerns personally but Karatbit Foundation as issuers of cryptocurrency. The Foundation is based in Caribbean Belize. Seiz according to “Handelsblatt” Director of Karatbit Foundation is also managing director of the Stuttgart Gold handler carat bars. In addition to the sale of gold bullion, the group advertises on its website with products “around gold and block chain” including the KBC. Over the penalty payment beyond the entrepreneur threatens criminal penalties. Who spends in Germany without permission electronic money can be punished by a fine or up to five years in prison. “Handelsblatt”, according to which the Stuttgart public prosecutor already determined against Seiz. Details so far was the competent authority not known. The BaFin had forbidden the alleged gold covered cryptocurrency end of October. The Karatbit Foundation operate the electronic money Store illegally in Germany as the substantiation of financial supervisors. Seiz said shortly after learning of the BaFin arrangement in an interview the cryptocurrency not adjust and settle to want.

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