FCA's 52 crypto investigations 'tip of the iceberg' - law firm

Regulator received 343 calls in October

The Financial Conduct Authority (FCA) opened 52 investigations into cryptocurrency businesses in the last year, according to City-law firm RPC.

According to a Freedom of Information request submitted by the law firm, the FCA had been receiving an increasing number of calls to its consumer helpline about cryptocurrencies - receiving a total of 343 calls in October, almost twice the 176 calls it received six months earlier in April. Non-registered crypto businesses were required to register with the regulator by 10 January this year. Businesses that failed to meet this deadline will come under scrutiny by the FCA. However, the firm said that this is likely to be just the "tip of the iceberg" in terms of cryptocurrency-related a...