FCA reports $34 Million Lost in Crypto and Forex Scams Last Year

The primary financial regulator of the United Kingdom, the Financial Conduct Authority (FCA), reports that crypto investors in the country lost over $34 million due to cryptocurrency and forex scams for 2018–2019. The FCA is considering a ban on high-risk derivative products linked to crypto assets. FCA executive director Mark Steward claimed scammers can be very convincing so always do your own research into any firm you are considering investing with.

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