Aussie firm to launch $100M class action over dodgy QOIN token By

The issuer of a controversial cryptocurrency that can only be sold in batches of $125 daily on a single exchange is facing pushback from an Australian law firm.

Queensland-based law firm Salerno Law plans to file a lawsuit accusing BPS Financial Limited — the company behind the QOIN token — of engaging in misleading and deceptive conduct, pyramid selling of financial products, and failing to comply with financial services regulations. The lawsuit will seek $100 million in damages.

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