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The Takeaway
- Florida regulators are investigating Karatbars, a German company that’s been promoting a token tied to a Miami “crypto bank” without any banking license in the state.
- Karatbars previously issued a cryptocurrency purportedly backed by gold, but CoinDesk has been unable to verify the existence of the mine the company says produced the gold.
- Before it entered the crypto space, Karatbars sold gold products online through an affiliate marketing system that regulators in three countries warned the public to avoid.
- CoinDesk interviewed three of Karatbars’ current “affiliates,” who said they passionately believe in the company and its tokens.
https://www.coindesk.com/gold-backed-crypto-tokens-promoter-investigated-by-florida-regulators?utm_source=twitter&utm_medium=coindesk&utm_term&utm_content&utm_campaign=Organic%20&&__twitter_impression=true&fbclid=IwAR1YJTMOduJ9IAeDMTmH4Eo3D3dXYwEaBijb9xexio7inbn59OnfbRV-YQQ
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