The leading blockchain industry body in Australia has ejected retail-focused cryptocurrency project Qoin from its membership list, but itâs not clear why.
According to a Feb. 19 notice from Blockchain Australia (BCA), it issued a summons to Qoin on Jan. 29, asking Qoin to respond.
BCA said that, after reviewing Qoinâs response and the âcircumstances of the matter,â it terminated the projectâs membership, meaning that Qoin must cease using of the Blockchain Australia logo and name in connection with its business or promotional activities.
BCA aims to âadvance the adoption of blockchain technology throughout Australia,â according to its website. It also provides members operating in the local industry an air of legitimacy.
When asked for specific reasons behind BCAâs decision to remove its membership, Qoin chief marketing officer Andrew Barker told CoinDesk the firm had not received âany extra documentation pinpointing any example.â
A âformalâ public response to the notice posted Wednesday by Qoin, though, alleges the notice from BCA included âfalse allegationsâ around âcommunication and disclosuresâ on the projectâs website.
âThe timing ⦠aligns with the emergence of false and misleading comments ⦠made by certain antagonists on social media platforms including a previous board member,â Qoin said in the post.
Some reports have suggested that the former BCA board member is Nuggets News CEO Alex Saunders, who alleged in a tweet that Qoin is the âbiggest crypto scamâ in Australia two days before BCAâs notice was served.
Barker said that, while âsome have drawn that conclusion,â because of the timing of the notice and because of Saundersâ prior role, Qoin did not know that âas a fact.â
âWe considered this notice a premeditated attack against Qoin,â the project alleged in its post. It also claimed that during the period of its response and the final notice âno questions were raisedâ nor âupdates givenâ by BCA.
Barker further alleged BCA had chosen to edit out three lines of the document that was forwarded to Qoin in the notice that was made public. He would not disclose the lines, saying the BCA should provide them.
See also: Australiaâs Blockchain Ecosystem Needs More Support From Regulators, Says Industry Body
Qoin said it will âvigorouslyâ defend any statements and actions made by outside parties that it considers âfactually incorrect, slanderous and defamatoryâ to its brand. Barker said Qoin is currently talking to a ânumber of advisories.â
CoinDesk attempted to contact both the BCA and Saunders for further comment, but did not receive a reply by press time.