THATS BECAUSE YOU DONT UNDERSTAND ANY LAW, POPULOUS DOES NOT NEED A LICENSE OF ANY TYPE TO OPERATE IN THE CRYPTO OR INVOICE FINANCING OR GOLD MARKETS, YOU NEED TO DO BETTER THAN THAT, THE STATEMENT IS VERY OLD
Every single fiat based invoice factoring company in the U.K operates under an FCA License.
The point to be made is that a crypto based invoice factoring company, operating within the U.K does not *yet* need a FCA license to operate, emphasis is on 'yet'. Does anyone really expect a multi-billion dollar company, supposedly handing billions of dollars per year in invoices will *not* be required to operate under a license in the near future ? I would place this in the 'very unlikely' category.
If you don't believe it is likely that FCA licenses will be required, then carry on buying PPT, that is the risk you take for the reward. If you however agree that you will need an FCA license in the near-future for said crypto based invoice factoring then the purchasing decision for PPT hinges on whether you think Nico and the team can obtain an FCA license to operate.
I would expect that the FCA would not grant PPT a license to operate with the present team in place.
This is all speculation and it needs to play out however, nobody should be blind to these risks and they should be discussed openly and in a balanced manner so if people get burned there is less pressure on the PPT team.
As it stands there are people who bought at $60 and were not entirely in the clear about all of this and are thus, very unhappy to see the price tank to the $2x range. This actually puts more pressure on the PPT team, not less than if these details had come up during ICO.
On the other hand if these details were known about during ICO, would anyone have given Nico the seed money? Probably not, so you can see why its only come to light recently.
This is what I am trying to say.
PPT team must clarify this issue if they and PPT defenders wants people to invest on this project.
Are you a PPT defender? Go to chat and ask about licence. There is a good chance that you will be banned from chat.
