Crypto scammers abuse ‘lax’ UK company laws to fool victims: Report
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The United Kingdom is host to at least 168 companies accused of running fraudulent crypto or foreign exchange (forex) scams according to an independent analysis.
A Jan. 29 joint
The U.K. government has been trying to crack down on crypto companies in the region, with the U.K. Financial Conduct Authority requiring that all businesses who carry on crypto asset activity register with them as of Jan. 10, 2020.
The regulator has been very stringent with its approvals, however, with many crypto-related businesses continuing to operate as unregistered businesses as it tries to find a balance between providing a safe environment for investors and supporting innovation in the industry.
