The UK’s FCA Comes After Unregistered Cryptocurrency Trading Operators, 50 Firms on Radar

The UK’s Financial Conduct Authority (FCA) has increased its efforts aimed at bringing discipline to the cryptocurrency trading industry. The watchdog has been investigating 50 companies over unlicensed operations, which is twice as much as in May, The Telegraph Money reports.

Responding to a request submitted by the media outlet, the regulator also added that it was looking into seven whistle-blowing reports from employees engaged in the cryptocurrency sector. Notably, there were no reports on wrong-doing during the previous three years.

Andrew Jacobs, a partner at Moore Stephens, an accountancy firm, believes that the tightened approach of the regulator is natural as scams and frauds are often exposed du…

This article appeared first on Cryptovest

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