Giracoin Crypto Currency Recognized As A Financial Intermediary In Switzerland?
The combination of crypto currency and network marketing drives a company very fast in pyramid territory, especially in the USA.
Sales based on 50% recruitment or more is a NO GO in the USA, but it does not make an opportunity in Europea, South America or Asia automatically a non legit opportunity as regulations are there more flexible.
Anti Network marketing websites always use USA laws to qualify international companies as Ponzi’s or Pyramids.
Several founders choose therefore to establish their crypto currencies outside the USA or in case of Giracoin in Switzerland.
Giracoin is coming up fast in the Business For Home Momentum ranks, and is founded by Gian-Carlo Collenberg – CEO, Ramon Simon – CFO, Raja Yogarajah – CTO and Gnana Yogarajah – CDO and Swiss bankers are in the board of directors.
What I found interesting is that Giracoin distributors claim that Giracoin is certified to perform financial services and therefore their crypto currency is legit.
According to the Giracoin website:
“Thanks to certification by the competent Swiss self-regulatory organization (SRO) PolyReg, Zurich, Gira Financial Group AG is recognized as a financial intermediary in Switzerland and authorised to perform their services.”
The company refers to FINMA, Switzerland’s independent financial-markets regulator. Its mandate is to supervise banks, insurance companies, exchanges, securities dealers, collective investment schemes, and their asset managers and fund management companies.
It also regulates distributors and insurance intermediaries. It is charged with protecting creditors, investors and policyholders. FINMA is responsible for ensuring that Switzerland’s financial markets function effectively.
And on the FINMA website the Gira Financial Group AG is indeed mentioned and is monitored by SRO PolyReg in Zurich.
Basically what this certification says is that the company is allowed to perform financial services however it does not say anything about their Giracoin crypto currency.
We at Business For Home report facts and figures, we do not have an opinion about the Giracoin compensation plan or other crypto currencies, however we have not found (yet) evidence that the Giracoin crypto currency itself is legit under Swiss law as claimed by distributors.
The company – Gira Financial Group AG – is indeed certified to perform financial services 🙂