Watchdog Tighten Measures: Investigations Against Bitcoin Firms Raised by 74%

Libra Coin News
Mon, 10/07/2019 - 10:56
Denis Sinyavskiy
Over the past 12 months, the regulator has increased the number of investigations into cryptocurrency firms by 74%.
Cover image via www.123rf.com

 

According to The Telegraph, the active popularization of cryptocurrencies has forced the city regulator to significantly intensify investigations into Bitcoin firms.

Paranormal activity

In the past 12 months alone, the Financial Conduct Authority (FCA) has conducted investigations into 87 firms. Compared to the previous year, this number increased by 74%. In the previous period, only 50 cryptocurrency firms were investigated.

Many experts agreed that strengthening the regulatory policy in the cryptocurrency sector is a good sign. Especially considering the fact that interest in digital currencies has risen sharply since 2017, after the explosive growth of Bitcoin, which showed +2000% in less than a year.

Way to the mousetrap

In an attempt to make quick money, many investors lost money on corrections in 2018, and also became victims of scam projects, which ultimately attracted even more attention from regulators. Today, in the legal field of cryptocurrencies, not everything is so simple, but regulatory attempts continue.

About the author

Starting with a simple interest in cryptocurrency, over the past two years, Denis has worked in a cryptocurrency fund and become an author with an analytical bias. His engineering degree helps with the analysis of the technical part of the cryptocurrency market. As a fan of cryptocurrency, Denis believes that the blockchain technology is the future.


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