UK launches ‘deeper examination’ of ICO cryptocurrency tokens after consumer warning
The Financial Conduct Authority is set to review the use of the digital fundraising tool.
Bitcoin Stock
The UK’s financial watchdog is set to launch a “deeper examination” into Initial Coin Offerings (ICO), in a move that could ramp up regulation against the fundraising tool that has been riding the wave of the Bitcoin boom.
The Financial Conduct Authority issued a warning to consumers in September about the “speculative nature and high risks” around ICOs, which allow investors to exchange cryptocurrencies like Bitcoin for proprietary “coins” or “tokens” linked to a specific firm or project.
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