Altcoins News
By Dan Saada
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Facebook's Libra is now discussed as a controversial digital currency project, of which PayPal is the first to pull out.
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This has happened due to the second thought of PayPal being involved with Facebook. PayPal stated, "We remain supportive of Libra's aspirations and look forward to…
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The French government has already stated that they will be blocking the development of PayPal in Europe.
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None of the multinationals have officially joined, and most of them are only involved provisionally.
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The Financial Conduct Authority in the UK has estimated that nearly £27m in crypto and foreign-exchange scams have contributed to the loss of its citizens.
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When talking about the increased scrutiny of the FCA, David Heffron, partner at a law firm, stated, “Reflects the FCA’s increasingly hands-on and no-nonsense approach to…
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The current activity of the FCA would be encouraging for those who are already acting lawfully, and the bad actors will be pushed out of the cryptocurrency market.
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A lot of getting rich schemes are hitting the market, and the FCA is, therefore, working on a tight line with cryptocurrency companies who are offering products in public.
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Most of the scams have fake celebrity endorsements; pictures of luxury items are used to attract people via social media.
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Cryptocurrency transfers and purchases are not regulated in the UK by the Financial Services Compensation Scheme if things should go wrong as they are not regulated.
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