The UK Financial Conduct Authority (FCA) has doubled the number of crypto-related businesses it suspects of operating in areas of financial services without its permission, according to figures obtained by the Telegraph.
The city watchdog has conducted inquiries into 50 firms. In May this year it had looked at only 24. In addition, the regulator said it had received seven whistle-blowing reports from concerned employees of crypto businesses this year. There were none in the previous three years.
In a speech this month, the FCA’s Christopher Woolard warned: “[Consumers] may buy unsuitable products, face large losses, be exposed to fraud, struggle to access services or be exposed to the failings of providers such as exchanges.”
Those who enter the market at this time may be surprised to hear that Bitcoin…
George Town, Grand Cayman, 22nd November 2024, Chainwire
Las Vegas, US, 1st November 2024, Chainwire
From digital art to real-estate assets, NFTs have become a significant attraction for investors who…
Singapore, Singapore, 21st October 2024, Chainwire
HO CHI MINH, Vietnam, 17th October 2024, Chainwire