New Zealand’s FMA has issued a securities fraud warning against Karatbars International.

As per the FMA’s May 4th warning,

Karatbars International GbmH, Karatbit Foundation and associated companies as they are not registered companies or financial service providers in New Zealand.

The FMA has acknowledged Karatbars being promoted in Auckland and Christchurch, and cautions the public against investing in the company.

Following last years
KBC token pump and dump cash grab
, things have been pretty quiet over at Karatbars.

There was talk of a KBC fork reboot but that doesn’t seem to have materialized.

Given KBC is dead, I assume the FMA has observed the pyramid recruitment side of Karatbars.

🤖 Quick Answer

What did New Zealand's FMA warn about regarding Karatbars International?
New Zealand's Financial Markets Authority issued a securities fraud warning on May 4th against Karatbars International GmbH and associated entities for operating without proper registration or financial service provider licenses in the country.

Why did the FMA issue warnings in Auckland and Christchurch?
The FMA documented Karatbars International being actively promoted in these cities, prompting consumer alerts due to the company's unregistered status and lack of regulatory compliance in New Zealand.

What happened to the KBC token associated with Karatbars?
The KBC token experienced a pump and dump scheme, collapsing after speculative trading. Subsequent plans for a KBC fork reboot did not materialize, leaving the cryptocurrency defunct.

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