UK Regulator Warns Against Crypto Investment Firm
The Financial Conduct Authority (FCA) has issued a public warning against an investment firm promising high returns on cryptocurrency trading. The UK regulator - which oversees more than 70,000 businesses in the financial industry - issued a public warning against Cryptoconomist Limited, registered to a London address, on its website earlier today. In the warning, the FCA said it believed the trading website had been providing "financial services or products in the UK" without its authorisation. "Almost all firms and individuals offering, promoting or selling financial services or products....
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We believe this firm....
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The warning comes a day after the regulator's U.K. counterpart, the Financial Conduct Authority, also raised similar concerns.