UK's Financial Conduct Authority launches probe into 24 crypto companies

Posted 29 May, 2018

UK's Financial Conduct Authority has reportedly launched an investigation against 24 crypto companies.

The goal of the probe is to check activities of unauthorized companies as well as determine whether they require licenses for such business, reported CityWire. At the same time, the list of the companies is yet to be unveiled.

In case of a positive determination, the authority may give a slap on the wrist on the official website, noting that users should avoid cooperation with these companies. However, this is only one of the possible decisions. Thus, FCA can also be tougher and require assets freeze or suspension of the activities through the legal actions. Other scenarios are said to involve criminal investigation and recognition of the companies' non-solvency.

According to the news reports, FCA  stated that its competence covers only some companies dealing with digital currencies.

Back in April FCA announced joint crypto report to be presented in cooperation with the UK Treasury and BoE. Besides, it was also stated that the businesses offering crypto derivates would have to obtain corresponding permission.

Previous story

29 May, 2018 12:20

← Alabama's regulator outlaws three ICO-projects

The Alabama Securities Commission has ordered to stop distribution of tokens of the Extrabit mining company in the State, following the authorities in Texas and New Jersey. The latter has lately focused on the crypto projects attracting local investments. The regulator stated that the advertisements of the tokens on the WSFA website...

Alabama's regulator outlaws three ICO-projects

Next story

29 May, 2018 11:01

US dollar weaker on decreasing state bonds yield →

At the Asian session, the US dollar has slightly decreased on Tuesday, though the index was recorded above 94 just a day before. The US Dollar index rose to some 94.50 Tuesday morning. An upturn is related to reports about still possible US-North Korea summit. At the same time, the yield of the 10Y US state bonds plunged to 2.89%, the lowest level over more than a month.

US dollar weaker on decreasing state bonds yield
Write a comment
Prove you’re not a bot + 15 = 24