FCA’s Crypto Investigation Cases Have Nearly Doubled Since 2018

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Data shows that just in 2018 nearly 50 cryptocurrency companies were being investigated by the regulator, and were found to be violating the law in one way or another. According to the Financial Times, the United Kingdom’s Financial Conduct Authority, which is responsible for the financial landscape of the country has nearly doubled its investigation cases with firms involved in cryptocurrencies over the course of 2018 and 2019 combined. Comparing that to the 50 that the FCA was investigating, it paints the industry in quite a bad light. It was also one of the first to ever request customer trading data from registered companies not too long ago. Image courtesy of International Investment Read the best crypto news analysis here! bitnewstoday.com Bitcoin, investments, regulation and other cryptocurrencies Found a mistake?

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According to the Financial Times, the United Kingdom’s Financial Conduct Authority, which is responsible for the financial landscape of the country has nearly doubled its investigation cases with firms involved in cryptocurrencies over the course of 2018 and 2019 combined.

Data shows that just in 2018 nearly 50 cryptocurrency companies were being investigated by the regulator, and were found to be violating the law in one way or another. Even if they weren’t the sheer volume of investigations from the FCA is already evidence enough that the regulator is not taking the new industry lightly.

08.08.2019  |   in UK Tax Agency in the UK Demands Customer Trading Data From Crypto Exchanges Unfortunately, though, there were a lot more scam operations reported...

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