The regulator looks to firm up its role in supervising the nascent technology and its operators. As per Pinsent Masons data, the FCA has 87 active investigations underway, up from 50 in October 2018. During an investigation, the FCA has the power to suspend a company and prevent it from undertaking regulated activities, impose fines, apply to court for injunctions, winding up orders and restitution, and bring criminal proceeding against a company for financial crime.
In May 2019 the FCA released data and statistics showing that around GBP 27 million had been lost of cryptocurrency investment scams. Moreover, the fifth cohort of the FCA’s regulatory sandbox, announced in April 2019, contains eight cryptocurrency companies, while the fourth cohort included 11 companies based around blockchain and distributed ledger technology.
The Paypers is the Netherlands-based leading independent source of news and intelligence for professional in the global payment community.
The Paypers provides a wide range of news and analysis products aimed at keeping the ecommerce, fintech, and payment professionals informed about the latest developments in the industry.
Current themes
No part of this site can be reproduced without explicit permission of The Paypers (v2.7).
Privacy Policy / Cookie Statement
Copyright