Florida regulators Looked into ‘Gold-Backed’ Crypto Token’s Promoter

Florida regulators Looked into ‘Gold-Backed’ Crypto Token’s Promoter

Karatbars International GmbH, a German company founded in 2011 aiming at creating and developing a global infrastructure for the new digital era, asserted to raise $100 million in 2018 ICO and then it gets under investigation by Florida Financial Regulators. Its scheme was to follow its first token sale with another one in December 2019.

Now in this year the company indulged itself in promoting a KaratBank coin which is liked to a Miami-based cryptocurrency bank. Karatbars is not a licensed bank with the OFR. These pieces of information can be easily shared because of OFR being an open investigation. But no reaction about the matter was seen by Karatbars.

While Karabars for the first time offered internet-based purchases of gold to prospective ‘’affiliates’’ there was an warning to be cautious by the Financial Market Regulator of Quebec.

First Offering Token

KBC, the token by Karatbars runs on the ethereum blockchain, got distributed by an ICO in April 2018 stocking $100 million. Current global market capitalization of KBC is at $92,642,798. In the previous affiliate marketing strategy of Karatbars, maximum buying activity took place on the company’s own platform and the coins tend to stay put on the public ledger.

According to a source it came to knowledge that KBC was mined from Fort Dauphin in Madagascar but may be the info is wrong.


A startup got introduced by Taylor Richey, a Florida resident and a long-time gold bug, with an eye to benefiting a point-of-scale service for KBC known as Karatstars Labs. The man wants to bring value to this ecosystem. Karatbars became the world’s largest ICO several times and KBC-holders admired the crypto bank in Miami. Karatbars became the number one seller of gold bullion in the globe at that time they pivoted from a gold company to crypto.

Their affiliate program frequently received as part of their rewards program and holders’ have belief in this company.

Entrance of Crypto

Andrea LaRosa, an American KBC affiliate, came to KBC by the bitcoin community. He reduced the amount of investment in KBC. She explained that KBC is backed by gold on the contrary to that Bitcoin isn’t backed by anything. Jose Buco, a KBC affiliate, started by investing $32,000 in this company’s crypto products in 2018 and the person is willing to travel back to his homeland in future to preach the Karatgold gospel. He recently joined an affiliate program in Netherlands namely ‘’bridge from the financial system to cryptocurrency.’’

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