Blockchain Australia — the industry body for the novel tech in the country — has expelled Qoin, a retail merchant crypto projection based in Gilt Coast, Queensland.

According to a find of disciplinary action issued on Feb. 19, Blockchain Australia initially served Qoin with a summons to respond on Jan. 29.

Afterward the summons, Blockchain Commonwealth of australia expelled the projection from its membership ranks. Detailing its decision, the detect reads:

"On 17 February 2021, the Board of Blockchain Australia, having considered the Notice and the Response and the circumstances of the matter, resolved, pursuant to the Constitution, to terminate the Member'southward membership of Blockchain Australia. The former Member has been asked to cease the use of the Blockchain Australia logo and name in connexion with their business or promotional activities."

Andrew Barker, Qoin'south principal marketing officer, told Cointelegraph the statements were false, stating, "BCA chose to unilaterally mail service their decisioning in the public domain. Within one business day, the very same previous board member of BCA and his known associates, broadcasted the BCA Notice elaborated with farther fake, misleading, deceptive and defamatory statements across social media channels." Barker added:

"The fact that a National Association like BCA has chosen to attack rather than support Qoin, being the largest Australian-based Digital Currency project that engages over 400 families that service 28,000 validated merchants and near fifty,000 Qoin wallet holders, is but bewildering to the states."

According to Barker, Blockchain Australia is acting on allegations propagated past tertiary-party entities who take expressed such views on social media channels like Twitter. The Qoin website no longer displays the project's membership to Blockchain Australia.

Indeed, Blockchain Australia's action comes among allegations that Qoin is a crypto pyramid scheme. Tweeting dorsum in January, crypto educator and founder of Nuggets News Alex Saunders stated:

Co-ordinate to Qoin's website, the projection works past incentivizing retail merchants to accept the crypto with over 28,000 participants according to the website. Still, critics like Saunders say members are unable to cash out from the system.

When asked to annotate on scam allegations, Barker said, "We are not enlightened of whatever allegations of fraud put forward to Qoin. As per the qoin.globe website we emphasise to y'all that the Qoin Association engages often with its legal advisors [...] We continue to operate within the necessary regulatory guidelines and licensing in Australia and New Zealand as nosotros will inside each country as we aggrandize over the coming months."

Blockchain Australia did not immediately respond to Cointelegraph'southward asking for comments.