Trouble for LaVida coin? Bank Negara Malaysia has listed VI Profit Galaxy, the operator behind Datuk Seri Vida’s LaVida coin in its financial consumer alert list.
The list consists of companies or websites which are not authorised or approved to offer financial services under laws and regulations administered by BNM. There are 423 companies on that list currently. Remember Genneva Gold? MBI International? According to BNM, Malaysians seem to favour foreign exchange trading and gold investments when it comes to dodgy investment schemes.
On LaVida coin, the Securities Commission Malaysia has also said that it is reviewing LaVida coin to determine whether any securities laws have been breached.
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