Austria’s Financial Market Authority Bans Activities Of Digital Currency Mining Firm

According to an official statement, The Austrian Financial Market Authority (FMA) stops the business operations of INVIA GmbH, which is a Vienna based cloud digital currency mining organisation.

The organisation was demanded to stop digital currency mining activities on the grounds of doubt of unapproved administration of an Alternative Investment Fund (AIF). The process related to the ban is as yet pending. The public statement states the INVIA is neither directed nor authorised by the FMA.

The organisation behind INVIA GmbH, INVIA World offers mining of coins like Bitcoin and Ethereum via an intelligent mining framework, making payments continues from mining activities to its clients. As opposed to the FMA’s assertions, the organisation claims that it works in association with Europe’s lawmaking body.

Prior this month, US blockchain startup ShipChain was given a cease and desist order from the South Carolina Attorney General’s Office for infringing the state’s securities law. Despite the fact that it was asserted that ShipChain was not registered with the securities controller as a broker, the organisation later negated the claim.

Additionally this month, a Bitcoin investment organisation from Texas was given a cease and desist order by the Texas State Security Board for distributing unregistered securities and putting forth misdirecting declarations that deceive financial investors.