Close Menu
    X (Twitter)
    Blockchain Journal
    • News
      • Blockchain News
      • Bitcoin News
      • Ethereum News
      • NFT
      • DeFi News
      • Polkadot News
      • Chainlink News
      • Ripple News
      • Cardano News
      • EOS News
      • Litecoin News
      • Monero News
      • Stellar News
      • Tron News
      • Press Releases
      • Opinion
      • Sponsored
    • Price Analisys
    • Learn Crypto
    • Contact
    • bandera
    Facebook X (Twitter) Instagram
    Blockchain Journal
    Home » 50 UK cryptocurrency companies suspected of providing unlicensed financial services

    50 UK cryptocurrency companies suspected of providing unlicensed financial services

    0
    By BlockchainJournal on November 26, 2018 News
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Currently, the Financial Conduct Authority (FCA) is investigating the activities of 50 cryptocurrency companies. Thus, the number of such companies since May this year has doubled, writes The Telegraph .

    The publication received such information from FCA after it had sent a relevant request within the framework of the law on freedom of dissemination of information. As stated by the agency, it examines the activities of 50 organizations that are suspected of providing financial services without the necessary permission of the regulator.

    In addition, this year the regulator received seven reports of illegal activities from concerned employees of cryptocurrency companies – in the previous three years there had been no such statements at all.

    The publication also cites the words of Andrew Jacobs, a partner at the accounting firm Moore Stephens, who believes that the growth in the number of companies in the field of view of the regulator is associated with a general fall in cryptocurrency markets in 2018.

    “Due to falling prices, huge sums were lost, and this served as a trigger for the growth of complaints against FCA. With price collapses, fraudulent activity is likely to be brought to the surface, which puts additional pressure on FCA, which needs to ensure the transparent and honest operation of this market, ”he said.

    In May, it was reported that FCA is investigating the activities of 24 cryptocurrency companies.

    In September, a special committee of the Treasury of Great Britain announced the need to strengthen the regulation of the cryptocurrency industry in order to protect investors and put an end to the “Wild West” in this area.

    And last week, FCA CEO for Strategy and Competition, Christopher Woolard, confirmed a possible ban on the sale of cryptocurrency derivatives to retail investors, in particular, so-called “CFDs” of cryptocurrency prices (CDFs).

    Subscribe to BlockchainJournal news in Telegram: BlockchainJournal Live – the entire news feed, BlockchainJournal – the most important news and polls.

    << aside id = "unisender_subscribe_form-10" class = "widget unisender_form">

    BlockchainJournal.news

    Employees Fall Featured
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    BlockchainJournal

    Related Posts

    Bitcoin Futures Volume on Binance Explodes with $1.8B, Driving the Market

    October 3, 20253 Mins Read

    Global Crypto Capitalization Surpasses $4.22 Trillion with Bitcoin Nearing $120,000

    October 3, 20252 Mins Read

    JPMorgan Analysis: Bitcoin Could Reach $165k by Competing with Gold

    October 2, 20253 Mins Read

    Telegram Wallet Now Allows Buying Tokenized Stocks on Telegram Following Its New Alliance with Kraken

    October 2, 20252 Mins Read

    Polymarket Prepares for Its Imminent U.S. Launch After Getting the Green Light from the CFTC

    October 2, 20252 Mins Read

    AlloyX and Polygon Partner with Standard Chartered to Launch a New Tokenized Money Market Fund

    October 2, 20252 Mins Read

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    © 2025 Blockchain Journal

    Type above and press Enter to search. Press Esc to cancel.

    We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.