British the regulator on financial matters (FCA) has warned investors on the identified “clone” of the popular investment of “Fair Oaks Capital Ltd”.
In a published statement said that the clones created in a variety of fraudsters who are posing as officially registered in the FCA, the company carried out illegal business activities, and deceiving investors.
Under British law, all legal entities providing financial services must be authorized or registered in FCA. The regulator identified a fraudulent company that is using registration data firm Fair Oaks Capital registered with the FCA, cheats UK citizens.
The clone, called Fair Oaks Crypto, misleading potential investors, stating that they are members of Fair Oaks Capital, looking for the next victims of his fraudulent scheme. The FCA has provided accurate data company-clone to potential users to avoid contact with the scammers.
FCA supports innovation on blockchain technology
Starting in may, the FCA opened 24 cases in respect of cryptocurrency enterprises, to investigate compliance with financial rules and regulations to determine how valid they engage in financial activity that requires registration with the FCA.
The British regulatory Agency also offered investors to check the financial services register before you can use the offers of different companies, to be sure of the legality of its actions.
As a rule, the FCA demonstrates a positive approach to the regulation of the cryptocurrency industry. Recently we announced the creation of a wider initiative entitled “global network of financial innovation” (GFIN) to improve cooperation between regulators and innovative blockchain-companies. GFIN will provide consulting services on a variety of topics, including the regulation of securities and pre-sentence tokens (ICO).
Although the sector blockchain industry is in early stages of development, he continues to have active support at the government level in the UK.
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