RATE Group | Beware of This Bitcoin Company, UK Regulator Warns
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Beware of This Bitcoin Company, UK Regulator Warns

16 Mar Beware of This Bitcoin Company, UK Regulator Warns

Posted at 21:01h in Bitcoin News by

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The UK’s financial regulator has warned crypto investors and traders that Bitcoin Evolution isn’t authorized to operate in Britain. They’ve said that the service could be a scam.

Unauthorized Firms Shouldn’t Do Business in UK, FCA Says

The UK Financial Conduct Authority (FCA) accused Bitcoin Evolution, which provides a crypto trading application, of operating on the British territory without being authorized by the regulator.

The watchdog stressed that almost all companies and individuals providing, promoting, or selling financial products and services in the UK must be authorized. Nevertheless, some firms knowingly run their businesses without authorization, and some even operate investment scams.

The FCA didn’t specifically refer to Bitcoin Evolution as a scam. Nevertheless, the regulator’s tone was as if it had put the firm in the same basket with crypto-related fraudsters.

Be aware that scammers may give out other false details or change their contact details over…

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