Over a dozen firms in the cryptocurrency sector are under investigation by UK’s financial regulator, reports the Financial Times.
According to the business publication, the Financial Conduct Authority (FCA) disclosed on Sunday that 18 companies were being investigated over their involvement in selling cryptocurrencies. Additionally, alerts and warnings had been sent to another dozen or so firms over suspicion that they were engaging in cryptocurrency investment scams.
However, the FCA has declined to name the firms that are in the spotlight to avoid prejudicing the ongoing investigations. This is also to avoid affecting the business operations of the companies involved negatively before a definite conclusion has been reached.