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ABC News
ABC News
Business

ASIC sues BPS Financial Limited, company behind cryptocurrency Qoin, in Federal Court

ASIC BPS Federal Court Crypto Sarah Court Australia Gold Coast

The corporate watchdog has launched legal action against the company that owns Gold Coast-based digital currency Qoin, alleging it made false, misleading or deceptive representations to almost 80,000 users. 

BPS Financial Limited is also being accused of engaging in unlicensed conduct and the Australian Securities and Investments Commission (ASIC) has commenced civil penalty proceedings in the Federal Court against the company.

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