NASSAU, BAHAMAS — The Securities Commission of The Bahamas (SCB) has issued a warning to the public regarding an entity operating as ASUE MAXXED.
A notice issued by the SCB yesterday stated: “It has come to the attention of the Commission that an entity referred to as ASUE MAXXED LLC, also known as Asue Maxx, and AMAXX may be conducting activities in this jurisdiction that are either registrable/licensable or illegal under one or more of the Acts. WARNING The Commission hereby advises the public that ASUE MAXXED LLC and its agents/representatives are not registrants of the Commission and has not applied for registration or licensing by the Commission.”
The Commission added: “Therefore, any conduct of registrable/licensable activity by this entity and its agents/representatives, in or from this jurisdiction, is a violation of one or more of the Acts. If this entity and its agents/representatives claim to be compliant with the Acts and/or registered with the Commission, they are committing an offense and are liable for criminal prosecution and/or regulatory sanctions under the relevant laws of The Bahamas.”
According to the Commission ASUE MAXXED touts itself as a Money Lending Entity, providing an investment platform, and fully integrated online asue services.
“According to its websites ASUE MAXXED claims that since 2019 the entity has led the way through Blockchain Technology to create a network referred to by ASUE MAXXED as Amacoin Tokenomics, or AMACN Token designed to make lending money simple. ASUE MAXXED further claims to be “the bridge that opens the world of cryptocurrency to Bahamians with loans requiring no collateral, 0 percent interest rate, and no monthly fees”.
“ASUE MAXXED also purports to be an investment platform that allows investors to start at a beginner’s stage and reach the status of platinum, with the entity guiding investors,” said the Commission.
It added: “ASUE MAXXED, in inviting the public to join its program, encourages persons to “leverage their acquired ‘Amacoin’ tokens as equity” to get a loan within the ASUE MAXXED network. WARNING Individuals are dissuaded from conducting business with ASUE MAXXED, its agents or representatives, and where persons are already doing so they should be cognizant that they are doing business with entities and/or individuals who are not authorized or regulated by the Commission.
“Members of the public should exercise extreme caution concerning any securities-related or regulated financial activities with ASUE MAXXED or its agents.”
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