Tuesday, September 27

The organizer of the crypto event charges against the CNMV: “They should educate themselves a little more about us”

The organizer of the cryptocurrency macro-event to be held this Saturday in Madrid has criticized the National Securities Market Commission (CNMV) this Thursday for reporting that his company does not have a license to attract investors and that several of the sponsors are considered “chiringuitos”. financial”. “We do not understand what type of license they are referring to. We do not need any license because we are not a financial institution and we do not have any financial instrument”, said Mani Thawani, founder of Mundo Crypto. “Maybe they need to educate themselves a little more and study a little better what our company does,” he added.

United We Can ask the Community of Madrid to cancel the cryptocurrency macro-event

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The CNMV questioned the use of television figures that the Thawani macro-event was going to do to promote investments in cryptocurrencies, warning that they are high-risk financial assets. “We hope that this event and the experts and celebrities presenting and speaking will properly inform attendees about the risks of investing in crypto assets, especially now that so many investors are seeing their money disappear by investing in these unregulated and unsecured assets,” requested the CNMV.

The action of the regulator and the resulting social pressure have caused most of those recognized faces to be removed from the event. This has been done by those who were going to be its presenters, Cristina Pedroche and Jorge Fernández, as well as the actors of the series the one that is coming Pablo Chiapella and Macarena Gómez, who were going to perform a humorous sketch. Coca-Cola, which was the main “associated company” not related to the crypto sector, has also withdrawn its support for Thawani following the CNMV notice.

We do not promote investment in cryptocurrencies, we promote information and education in cryptocurrencies

Mani Thawani
Founder of Crypto World

Thawani, a 29-year-old crypto entrepreneur born in the Canary Islands and of Indian origin, assured in a press conference that neither the event on Saturday nor his company seek to attract new investors. “We dedicate ourselves to training”, he has insisted on several occasions.

However, Tawhani defends that his goal is to achieve a “mass adoption” of cryptocurrencies. Asked about this point by elDiario.es and its apparent friction with the CNMV’s warning not to promote crypto assets among the non-specialized public, the founder of Mundo Crypto has expressed that he refers to a “responsible mass adoption” of “blockchain technology ”. “We do not promote investment in cryptocurrencies, we promote information and education in cryptocurrencies”, he has stated.

His statements contrast with the facts surrounding the cryptofestival. All the sponsors are companies focused on offering investments in cryptocurrencies and the agenda of the event has several points that deal with how to improve investments in cryptocurrencies. Last year’s edition, which was also surrounded by controversy, was called “The Great Investment” and revolved around a company that Thawani selected for its potential, in which he assured that he would invest one million euros. Ultimately he didn’t.

Thawani has maintained a conciliatory tone with journalists that has contrasted with the “official statement” that he released this Wednesday on his social networks. In it she accused the press of bowing to the “centralized dictatorship of the banks.” “In less than two hours, media from all over the country have attacked the Mundo Crypto event. Why, who is behind? Who is so bothered that the entire crypto community gathers in one space? Only to those who want to put a stop to innovation, knowledge and the advancement of something unstoppable. The one who wants to keep his privileges, ”he says in the video.

“They prefer that young people go out on Saturday night to spend their money on alcohol and tobacco. Why will it be? Maybe because for each pack they charge 50% tax? ”, She wonders.

the metaverse

The event organized by Mundo Crypto has a budget of two million euros and aims to bring together 7,000 attendees this Saturday at the Wizink Center, one of the largest capacity venues in the capital. Thawani claims that he has given cryptocurrency training to 50,000 students, with prices ranging from 50 to 3,000 euros. The company, based in Dubai, has been active since 2019. As revealed by its founder, it has not yet paid taxes in Spain, but will do so starting this year.

During the press conference, Thawani has announced a plan that he will present during the event to reorient his company towards the metaverse and leave aside cryptocurrencies, which until now have been his main focus. As part of this strategy, he wants to launch a platform where users train each other, a “decentralized means of communication” and other applications based on blockchain technology.

Facua’s complaint

The Facua consumer association has denounced Mundo Crypto this Thursday before the General Directorate of Commerce and Consumption of the Community of Madrid for promoting its event as free despite the fact that it charges 47 euros to reserve the seat. The organization has explained that it will refund the amount of the ticket to those who finally come to the WiZink Center, although not to those who do not. What will not be returned in any case will be the management costs.

Facua has pointed out that the penalty for not attending is given despite the fact that “there is no evidence of any kind of damage or effective damage to the fair, since the event can take place normally despite the fact that there are people who decide not to attend and who they do not get to benefit from the talks and conferences that are given”. He has also denounced that management expenses are not returned and that these are not sufficiently clear.

Asked about this issue, Thawani has said that he has left the issue in the hands of his lawyers that the management costs do not exceed “three or four euros.”