SWEDISH POLICE CLOSE OneCoin INVESTIGATION
06/04/2017 10:16
SOFIA, Bulgaria
16. March, 2017
The Swedish Gaming Authority has confirmed that an enquiry by the Swedish Police into the
OneCoin cryptocurrency and its associated multi-level marketing business, One Life, has now
been closed.
The Swedish Police issued an official decision on the case on February 6th 2017, stating that the
preliminary investigation has been discontinued. The Police statement indicated that there was
no basis upon which to continue the investigation as there was no reason to believe that an
offense had been committed. The Police concerned its decision to the Gaming Authority on
March 1st 2017.
OneCoin stated: “We have been aware for some time of unfair competition practices against
OneCoin and OneLife, which have included serious though demonstrably false allegations which
have raised understandable concerns. Where these have resulted in formal enquiries or
investigations, we have been happy to cooperate fully with the authorities concerned, confident
in the knowledge that the facts would prevail. This is the second such occurrence in which an
investigation by a regulatory authority has confirmed there to be no findings of illegitimate
dealings in our business, and of course we welcome the prompt and professional manner in
which the Swedish Police have conducted their enquiry”.
OneCoin is a digital currency, based on cryptography and created through a process called
'mining'. Just like the serial number on a paper bill, each digital coin is unique. Unlike money
issued by governments, there is a finite number of OneCoins, ensuring they cannot be affected
by inflation and are impossible to counterfeit. Because cryptocurrencies are not tied to any
particular country or central bank, the value of the coin depends on factors such as usability,
demand and supply.