Regulatory Warnings

[wellington]

I’ve always put weight behind regulatory warnings but recently became aware of two which sequentially posted incorrect information

1) was labeled by its product not company - the product ceased in 2019 and was a open source wallet

2) was labeled by its company but as a VASP when it literally sold access to its products (mainly data processing or data related or social etc)

Both ceased In 2019 but warnings issued for ceased / dissolved entities that had nothing to do with the warning context.

So now I am asking myself a question - do they actually research before warning or is it based on some ANI ?

 

[Sols]

Hard to comment on without seeing the notices or warnings.

Governments are usually very careful about issuing these kind of warnings. If they get it wrong, they risk legal repercussions. That's why regulators are often so slow to react and issue warnings.

 

[JohnnyDoe]

Most of the times these warnings are triggered by anonymous complaints from competitors and are completely baseless. The monkeys in government offices take the occasion to show to their owners that they are actually working and quickly issue the warning without fact checking of any sort.
Legal actions to rectify the situation are largely useless, in a best case scenario they will just remove the warning without any rectification or apology.

As usual, consider as false and misleading any information coming from any government, until proven the contrary.

 

[JackAlabama]

Most of the times these warnings are triggered by anonymous complaints from competitors and are completely baseless. The monkeys in government offices take the occasion to show to their owners that they are actually working and quickly issue the warning without fact checking of any sort.
Legal actions to rectify the situation are largely useless, in a best case scenario they will just remove the warning without any rectification or apology.

low hanging fruits.

As usual, consider as false and misleading any information coming from any government, until proven the contrary.

word. This is a great and simple sentence to live ones life by avoiding many mistakes.

 

[jafo]

Most of the times these warnings are triggered by anonymous complaints from competitors and are completely baseless. The monkeys in government offices take the occasion to show to their owners that they are actually working and quickly issue the warning without fact checking of any sort.
Legal actions to rectify the situation are largely useless, in a best case scenario they will just remove the warning without any rectification or apology.

As usual, consider as false and misleading any information coming from any government, until proven the contrary.

word. This is a great and simple sentence to live ones life by avoiding many mistakes.

#Bingo!

You both don't miss! Always right on the money!