Nine companies have been put on a warning list by the Financial Conduct Authority on Monday; these companies used to provide crypto and financial services. Olympus Global, STS Royals, Bitcoin Evolution, Walker Bryan, Credit Union Fund, My Safe Market, Carter FS, and Standard Bit Options are companies which are noted down. A clone of Ignis Markets, a platform regulated by FCA, is also in circulation and FCA dropped a warning regarding it too.
<blockquote>“We believe this firm has been providing financial services or products in the UK without our authorization,” the UK regulator stated in the warning.</blockquote>
The FCA is trying to take the required steps, and safeguard the U.K.nationals. The scammers are looting and duping clients by promising them super returns on their investments.

The crypto-based platforms also are included on the list, and one even goes as far as offering 200x leverage.

The FCA stated that all the firms need their approval before they can start offering financial services like promoting or selling products in the UK. Some firms, however without informing them are trying to run investments schemes which are scams. The companies caught are choosing to stay silent and non-responsive as of now.
<h2>Clone of FCA Regulated IGNIS Circling Around</h2>
The FCA fired a warning shot for IGNIS too, its regulated platform and stated that there’s a<a href="https://www.fca.org.uk/news/warnings/goldmans-banc-clone-fca-authorised-firm"> clone</a> out there of IGNIS which is convincing people to be a reliable firm. The FCA labels it as a “clone” firm and states that these fraudsters are using their name as a strategy to appear more authorized and dumbfound and dupe the ignoramus. The FCA stated:
<blockquote>"They may use the name of the genuine firm, the ‘firm reference number’ (FRN) we have given the authorized firm or other details.”</blockquote>
A popular firm from the U.K.,<a href="https://www.cryptoknowmics.com/crypto/fca-retracts-official-warning-against-kraken/"> Bitmex was also called out by the FCA</a> for offering unauthorized services in the country.

You May Also Read.
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 	<li><a href="https://www.cryptoknowmics.com/news/fca-warns-people-to-swerve-away-from-corona-scams/">FCA Warns People to Swerve Away From Corona Scams</a></li>
 	<li><a href="https://www.cryptoknowmics.com/news/fca-retracts-official-warning-against-kraken/">FCA Retracts Official Warning Against Kraken</a></li>
 	<li><a href="https://www.cryptoknowmics.com/news/uks-fca-increases-cryptocurrency-business-registration-fee-to-10000/">UK’s FCA Increases Registration Fee For Crypto Businesses To £10000</a></li>
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FCA Lists Down Nine Fraud Crypto And Financial Companies

The Financial Conduct Authority (FCA) on Monday noted down the list of nine crypto companies who are running scams in the name of unauthorzized schemes.

Zain is a fervid fan of bitcoin and has been meticulously covering the field for a fair amount of time now. An aficionado of Spider man, Liverpool and Slim Shady.

FCA Lists Down Nine Fraud Crypto And Financial Companies

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