Onecoin victims have joined a consortium that wants the European Parliament to consider a petition seeking the establishment of a compensation fund. The envisioned EU-administered fund will function as an insurance kitty for current and future victims of all crypto fraud. The petitioners are proposing the levying of an “unnoticeable” fee of 0.0001 cent per €1 on all crypto-asset transactions conducted on EU territory.

Explaining the pivot towards the European Parliament, the victims’ lawyer, Jonathan Levy, says they have now made the decision to approach the legislature because they know this body “will not shy away from providing remedies to people as it has done in the past with the GDPR.” Also, the victims will feel encouraged by the recent reports that the EU wants to institute continent-wide regulation of crypto assets that “will be phased in by 2022.” Previous attempts to have the EU Commission consider the petition failed to yield positive results for the victims.

Meanwhile, Levy tells news.Bitcoin.com that…

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Source: https://news.bitcoin.com/onecoin-victims-petition-establishment-european-crypto-fraud-compensation-fund/