2 years ago
The UK’s Financial Conduct Authority (FCA), opened much than 300 cases betwixt Apr. 1 2021 and Sep. 30 2021, relating to businesses perchance progressive successful crypto assets, according to an announcement connected its authoritative website.
The fiscal watchdog said that it has 50 ongoing investigations, including “criminal probes” into businesses that person not registered with them. The cases were opened aft the bureau received thousands of complaints astir imaginable scams, the FCA said successful its user investments information review, published connected Thursday.
“Between April and September past year, the FCA received 16,400 enquires astir imaginable scams, up astir a 3rd from the aforesaid play successful 2020. The apical types of scams being reported to the FCA included cryptoasset, boiler country and betterment country scams.”
The FCA has been cracking down connected crypto firms and advertizing successful the state successful an effort to support investors. In January, it announced plans to limit advertisements promoting crypto to blase investors.
According to data published the FCA prevented 1 successful 4 firms from entering the marketplace betwixt April and September 2021, though these are not exclusively crypto firms. The information besides showed an summation successful reports astir imaginable crypto scams.
"Our cryptoasset squad successful Supervision opened implicit 300 cases relating to imaginable unregistered cryptoasset businesses successful this period, galore of which are apt to beryllium progressive successful scams. During the aforesaid period, we added 172 firms to our Unregistered Cryptoasset Businesses list," the information study said.
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Sandali Handagama is simply a CoinDesk newsman with a absorption connected crypto regularisation and policy. She does not ain immoderate crypto.
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