Controversial macro-event in Madrid on cryptocurrencies

Many young people are attracted to the idea of ​​becoming millionaires in a short time with cryptocurrencies

The WiZink Center of Madrid celebrate this saturday macroevent with followers of cryptocurrencies. With tickets sold out, gather 7,000 people. However, the act is surrounded by controversy and criticism. The PSOE and United We Can have asked Madrid President Isabel Díaz Ayuso to cancel it and the National Securities Market Commission (CNMV) warned of the risks of this type of investment.

Many young people are attracted by the idea of ​​becoming millionaires in a short time thanks to this investment. And that, this year, cryptocurrencies have lost half of their value.

Run away, organizer of the event, endowed with an investment of more than two million euros, attacks the banks and the media. His company, MundoCryptois on the CNMV’s gray list, which also qualifies some of the promoters of the event as financial bars. Víctor Rodríguez assures that “we want the public to know that he does not have a license to provide financial services, with a regulated product”.

MundoCrypto pays its taxes in Dubai

However, Thawani argues that they don’t need a license because they are just an academy. With 50,000 students, their taxes are paid in Dubai. “The Spanish company is newly created and will pay the first taxes next year,” he says, adding that he will not answer the question of how much they earn because it is “private”.

The victims of this type of cyberbusiness reproach him for his philosophy, the same as that of companies already investigated for fraud in Spain, such as IM Academy. His message permeates, especially among young people, like Carmen’s daughter. “My daughter considers those of us who work to be fools. She left the university degree she was studying,” she explains.

7% of Spaniards invest in cryptocurrencies. An unregulated sector, without guarantees. Daniel Lacalle, economist of the Tressis group and participant in the event, points out that “the probability of losing all the money invested in one of these very high risk assets She is very tall“.

Fertile ground for scams. The National Court is investigating four macro frauds of 2,000 million euros and 60,000 affected.

The Community of Madrid says banning it would be ‘illegal’

The Community of Madrid has indicated that it cannot prohibit this act because it would be “appealing to illegality”. The Minister of the Presidency, Justice and Interior of the Community of Madrid, Henri Lopezclarified to reporters that the regional government has no power in the “crypto” event.

“Faced with an unregulated but not prohibited activity, the Community of Madrid cannot prohibit the holding of this act. If it did, it could do something illegal. We are faced with a rule of law and we must remember it“, highlighted.

In this sense, López acknowledged his concern with “everything related to cryptocurrencies and so-called investment bars”, which are not controlled by financial entities with the necessary powers to do so.

“It is the Ministry of Economy, the National Securities Commission and the Bank of Spain that have individual responsibility for controlling possible situations of illegality or related activities. They are economic authorities that must ensure the proper functioning of the market”, he underlined.

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