Colombia issued a warning against OneCoin: “illegal MLM”

April 22, 2016 Facebook Twitter LinkedIn Google+ MLM & Affiliate Marketing News


OneCoin an “illegal MLM” in Colombia

OneCoin an “illegal MLM” in Colombia

Posted: 21 Apr 2016 05:36 PM PDT

The Superintendency of Societies is a government regulator in Colombia charged with overseeing companies operating in the country. Citing a new law introduced earlier this year in January, the Superintendency of Societies has issued a warning against OneCoin. Differentiating OneCoin from legitimate MLM companies, the Superintendency of Societies claims OneCoin is ‘not contained within (the group [Continue reading…] Source: OneCoin an “illegal MLM” in Colombia
For a company to offer multilevel compensation or commissions that pay independent affiliates, commissions must correspond proportionately to (retail) sales (of products) and not be generated by the mere act of recruiting new people into the company.

The only monetary system permissible in Colombia is the peso (notes and coins), so other mechanisms, as in this case “Onecoin”, are not a means payment of legal tender with unlimited liberatory power.

Consequently, the “Onecoin” is not an asset that has legal equivalence to the legal currency in Colombia not having been recognized as currency within the country.

Neither is OneCoin an asset that can be considered a currency, according to the criteria of the International Monetary Fund, since it neither has the support of the central banks of other countries and therefore has no financial power.

Read the full article and join in the discussion over at BehindMLM.

Best Places Advertise Free Top Surfer

Click Here For Prospects Pay YOU $10 So You Can Advertise To Them

Live Internet Affiliate Marketing, MLM, Social Networking Training…

Using Blab & Twitter Periscope

Join Harvey The Silver Fox & Marty Bostick for Live Internet Affiliate Marketing Social Networking Training. They will be training for Joint Ventures, Business Building Tips, Affiliate Income Tips, Mobile Marketing, SEO Optimization, Video Marketing, Email Marketing, Directory Listing Optimization, Google Listing Optimization, Google Adwords Management, Website Traffic, Lead Capture Pages, AutoResponders, Email Marketing, Proper Web Design, Working With WordPress, Marketing Automation, Blogging, 1st Page Google Ranking, CoOp Marketing, Lead Generation, Telemarketing, Voice Broadcasting, List Building, Link Tracking, Tracking Phone Numbers, Rotators, Google PLUS, How To Use Twitter Periscope To Build Your Biz, How To Use BLAB To Build Your Biz, and more…

Catch Marty on Periscope using the button below…

Best Places Advertise Free Periscope Click Here


The owner of this website is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to Amazon properties including, but not limited to,,,,, or
Home Privacy Policy Terms Of Use Contact Us Affiliate Disclosure DMCA Earnings Disclaimer