UK Financial Conduct Authority Investigates ‘50’ Firms Over Cryptocurrency Non-Compliance

The U.K.’s financial regulator has doubled the number of cryptocurrency-related businesses it is inspecting over unlicensed operations, local daily news outlet The Telegraph reported Nov. 26. Responding to a Freedom of Information request by the publication, the Financial Conduct Authority (FCA) said it was currently eyeing 50 entities which it “suspected” were offering financial services without its permission. The number is more than twice that which the FCA reported in May this year, and comes at a time when the U.K. is seeking to adopt a more orderly approach to…