Reserves of 47 euros and a challenge to the CNMV: the controversy behind MundoCrypto
Facua denounces the macro event of crypto assets this Saturday in Madrid. The organizing company defends that it does not need a license from the CNMV because it is dedicated to education and not to investment
Financial beach bars, renowned economists, celebrities and high-standing sponsors. These are the ingredients that have made the macro event of the year for the 'crypto' community the focus of controversy.
The Metaverse Day to be held this Saturday at the WiZink Center in Madrid continues to be the focus of the National Securities Market Commission (CNMV), which this week recalled that the organizing company, Mundo Crypto, is on its so-called 'grey list' '. That is, that of entities that do not have any type of authorization or are registered for any purpose with the supervisor "and that could be carrying out some type of fundraising activity or providing a service of a financial nature."
Quite a danger in the eyes of the CNMV, which, however, has only limited itself to recalling that "cryptocurrencies have relevant risks, can experience large losses, are not yet regulated and do not have any investment protection or guarantee mechanism" . He advises investors in general to be wary "of those who offer you quick returns or promises of profitability without at the same time alerting you to these high risks."
More specific have been from Facua, which has filed a complaint with the General Directorate of Commerce and Consumption of the Community of Madrid to try to stop an event that is expected to be attended by more than 7,000 people. A record for the organizers of the meeting that, although it is promoted as free, charges 47 euros to reserve the seat. If finally someone decides not to attend, they will not recover that 'reservation'.
From Facua they remember article 87 of Royal Legislative Decree 1/2007, of November 16, which approves the consolidated text of the General Law for the Defense of Consumers and Users and other complementary laws, considers an abusive clause «the retention of amounts paid by the consumer and user for resignation, without contemplating compensation for an equivalent amount if the employer resigns.
The same article also contemplates as an abusive clause «the payment of amounts for services not actually provided […] or the fixing of compensation that does not correspond to the damage actually caused».
Similarly, to those users who have reserved their ticket and attend the event, Mundocrypto indicates that the 47 euros of the reservation will be returned "excluding management expenses". However, at no time does it mention how much these expenses amount to, so attendees cannot know in advance what amount will be reimbursed.
All the controversy surrounding the event was accentuated when the founder of Mundo Crypto, Mani Thawani, challenged anyone who considers cryptocurrencies to be a pyramid scheme to come to the event to debate with him. In a press conference, the young businessman returned to defend the formative character of the meeting next Saturday. And regarding the company's lack of a license to advise on financial instruments, he has defended that his company does not need any license, since it is not a financial institution nor does it sell or advise on financial instruments, but is dedicated to education in the sector. digital.
Mani Thawani has assured this Thursday that he is "hurt" with the "negative media attention" received and has claimed the company's place as the right arm of the regulators, while insisting that MundoCrypto works for the "responsible mass adoption" of the cryptocurrencies.
The controversy has caused some artists and media figures who were initially going to participate in the event to decide not to attend, as is the case with the presenters Jorge Fernández and Cristina Pedroche, the actors Macarena Gómez or Pablo Chiapella and the artist Maikel Delacalle.
As explained by Thawani, this type of personalities was invited so that the event, which lasted 7 hours, had "a little fun" and did not become "heavy" for the attendees, but in no case was it planned that the celebrities talk about cryptocurrencies.
