The National Crime Agency (NCA) is forming a team specifically dedicated to addressing fraud in cryptocurrencies. Ardor. Six experts will be appointed to focus on crimes related to cryptocurrencies. NCA has actively recruited for various roles in combating cryptocurrency crimes throughout 2023. Cosmos. The NCA in the United Kingdom is strengthening its fight against cryptocurrency fraud by
establishing a dedicated team to investigate these crimes. With the rising wave of fraud in the virtual asset field, the NCA has called for the formation of a group of six experts to delve into cryptocurrency-related crimes. This team, which is preparing to join the National Cyber Crime Unit (NCCU) or the Digital Assets Team, will adopt a proactive approach to detecting and monitoring criminal activities in the cryptocurrency field. Members are expected to bring a wealth of experience, including skills in…+
Additionally, the NCA initiative is part of broader efforts by the United Kingdom to balance the growth of the digital currency sector with strong investor protection.
Throughout 2023, the agency has issued multiple recruitment notices to enhance its ability to combat these digital financial crimes. Furthermore, in July, the appointment of two blockchain investigators was announced as a significant step for the NCA’s Complex Financial Crime Team (CFCT), further boosting its resources to address the increasing threats within the
cryptocurrency field. In line with the UK’s regulatory vision, industry leaders such as… are also strengthening their commitment to the region. As the UK is an expanding market, Coinbase has reaffirmed its commitment to Europe, particularly following the introduction of the Markets in Crypto-Assets Regulation (MiCA). It is worth noting that the UK has witnessed a surge in regulatory measures driven by notable bankruptcy cases in the previous year.
The Financial Services and Markets Bill, which was issued earlier this year, laid the foundation for stricter oversight of the cryptocurrency market. This legislation enables regulatory bodies to formulate a specialized framework for the digital asset industry, encouraging the adoption of secure cryptocurrencies throughout the country. Under the new law, cryptocurrency exchanges must now provide clear risk warnings to customers. These guidelines emphasize clarity, fairness, and
non-deception. Moreover, the mandatory cooling-off period of 24 hours for newcomers to the cryptocurrency market has been implemented. Therefore, the Financial Conduct Authority (FCA) has been vigilant. Last week, they broadcasted over 200 warnings targeting companies suspected of promoting assets that fall outside the legal boundaries since the stricter regulations came into effect. The establishment of a specialized cryptocurrency team by the NCA represents a crucial step in the UK’s commitment to ensuring a safer investment environment for cryptocurrency users and serves as a testament to the country’s continuous determination to enhance a secure and regulated digital economy.
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