New UK rules are “making progress” in stamping out the worst excesses of crypto investment promotions, marketing experts and participants said, after regulators issued 146 alerts about malpractice in the first full day of regulation.
The Financial Conduct Authority issued the alerts, warning consumers about companies that were offering cryptocurrency assets without regulatory clearance, after the industry came under the organisation’s regulatory oversight on October 8.
The FCA took the tough action despite pressure from a minister — reported by the Financial Times — for the organisation to be lenient with companies that had not been able in time to meet all the demands of the new regulatory regime.
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