FCA issues warning as Forex and Crypto fraud reports triple

Today, the FCA has announced warned of the rise of fraudulent online trading platforms after the reported number of crypto and forex exchange scams more than tripled in the last financial year. It also found that the total losses from these scams amounted to £27 million.   Kevin Murcko, CEO at crypto exchange CoinMetro, commented:   Criminals follow the money, and this report from the FCA shows they are taking advantage of consumers’ lack of understanding about crypto assets. If you’ve heard about Bitcoin on the news but don’t know…

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CRYPTOCURRENCY – FCA reveals findings from first Cryptoassets Consumer Research

The Financial Conduct Authority (FCA), the UK’s financial watchdog, published two pieces of research looking at U.K. consumer attitudes to cryptoassets. The research indicates that seventy-three percent of U.K. consumers don’t know what a cryptocurrency is or are unable to define it. The survey, which polled 2,132 British consumers in association with London-based market research firm Kantar TNS, further found that only 3 percent of those surveyed had ever bought cryptocurrencies.   The following crypto industry executives have provided initial reactions and thoughts on what this development will mean for…

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