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The United Kingdom’s finance watchdog the Financial Conduct Authority (FCA) has revealed that it is investigating 18 companies over cryptocurrency use, local daily news outlet the Telegraph reported Dec. 29.
Responding to a Freedom of Information Act (FOI) request from the publication, the FCA said it had closed the vast majority of its investigations into cryptocurrency-related businesses since May of this year.
Out of a total of 67 such inquiries, it revealed, 49 had come to an end, either by issuing a warning to those involved or admitting there was not enough evidence to support officials’ suspicions.
The statistics were accurate as of Nov. 12, the FOI response added.
Due to the ongoing nature of the proceedings, the FCA refused
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