UK FCA strengthens censorship of cryptocurrency-related businesses, and more than 84 companies are under investigation

The Financial Times reported that the Financial Conduct Authority (FCA) has taken tough measures against encryption-related companies. UK financial regulators are investigating 87 cases related to digital assets, 74% higher than the same period last year. This figure covers both comprehensive investigations and cases of early review. According to regulatory estimates, users lost £27 million due to cryptocurrency and foreign exchange fraud. However, industry experts believe that this tough approach is a positive development as it demonstrates FCA's determination to enforce the cryptocurrency market.