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FCA Suspends ePayments OneCoin

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FCA Suspends EPayments OneCoin
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FCA Suspends ePayments: Dear crypto lovers here is an important news for all of you regarding OneCoin. Today we are going to discuss about the shutdown of ePayments service in UK.

What Is FCA?

FCA is Finencial Conduct Authority in UK. If you don’t know about this then I will tell you everything in detail.

Each country has a finencial conduct authority that control and monitor all payment activities happening in their country.

Similarly UK has FCA that monitor all payment related activities in UK. Recently FCA closed ePayment system in UK. And almost all 100Million Euro is locked in this payment system of all customers.

What Is EPaymets?

EPayments is an arrangement [ Online banking System ] for receiving and sending an online payment. EPayments provides online banking facility like PayPal.

It is a UK based company which comes under FCA. EPayments were mostly used to receive cryptocurrency payments and adult payments.

But currently this online banking service has been officially closed.

Why FCA Suspends Epayments?

The main reason FCA suspended ePayments is its one-coin connection. Some former leaders working in One Coin had left their jobs and joined EPayments and were still doing this type of activity here too.

However these are all alleged allegations and we do not confirm them. Keeping in mind the scam of One Coin Company, FCNA has suspended the payments while maintaining its standard but it has caused a lot of loss to the people.

More than 1 million people are stranded in the ePayments online banking system.

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