The UK Financial Conduct Authority reportedly doubled the number of the crypto companies that are under investigation now.
According to the news reports, the British regulator stated that they are checking 50 companies that could provide financial services without the licenses. At the same time, the number was 24 in early May.
Moreover, alarmed employees in the crypto companies sent 7 reports to the FCA citing illegal operations of their firms. Notably, no such reports were detected over the past few years.
The observed measures are reportedly taken when UK authorities are striving to launch regulate the crypto industry in the country.
Earlier, FCA representative noted that the authority would not fuss about crypto companies in the country. In particular, some financial products can be banned due to their connection with the bitcoin futures. In September, the special body of the UK Treasury highlighted the need for tougher crypto regulation in order to protect investors in this sector.
As the market analyst thinks, FCA targeted more crypto companies seeing a general slackening of the market for digital coins this year. He added that the price plunge caused huge losses and thus more people filed complaints with the FCA putting additional pressure on the regulator.
As it was reported last week, FCA's chief confirmed that crypto derivatives sales to retail investors could be banned in the country.