UK regulator is investigating 50 crypto companies

The UK Financial Conduct Authority (FCA) continues investigations, including criminal cases, against 50 companies from

According to the statement of the regulator, from April to September 592 of the year he handled 16 cases involving unregistered crypto-currency firms.

During this period, through the ScamSmart service, the Office received from users 400 reports of possible scams, of which 4300 are related to cryptocurrencies.

ScamSmart also provides investors with online warning tools, including risk information and listings of unregistered companies. The agency noted that the lack of approval is directly related to the likelihood of fraud.

In September, the FCA announced a tightening of regulatory measures for the crypto industry. In October, the regulator launched the InvestSmart service, aimed at helping consumers who are just getting started in investing.

“Consumers need to be confident in making investment decisions, and the data we publish shows just how common fraud can be. Before investing, make sure you know who you are actually dealing with, whether they are FCA authorized, and study all possible risks,” said Sarah Pritchard, Executive Director of Markets.

The Department noted that during the reporting period, registration was denied for approximately % of companies wishing to enter the consumer investment market. A year earlier, this figure was %.