UK launches “Crypto Cell” against scammers

The United Kingdom is ready to fight against crypto-linked financial illegal activities with the help of the “Crypto Cell” unit. 

The United Kingdom (UK) has been a popular region for the Crypto sector and there we can see huge adoption of cryptocurrencies & blockchain technology. The financial conduct authority (FCA) is responsible to regulate & remit crypto regimes to Crypto companies in the UK. So far to this date, only a limited number of Crypto companies are active in the UK as trusted & regulated Crypto service providers. 

On 4 Jan 2023, The Financial News reported that the government of the UK released a job recruitment notification for its national cybercrime unit “crypto cell”. 

The “Crypto Cell” team will be dedicated to a proactive cryptocurrency remit with the right tools and capabilities to target UK-based subjects, the job advert noted.

Crypto scams in the UK

Perhaps, The FCA agency is known for its strict regulatory policies but still fails to fight against the wise bad actors, which are continuously doing financial crime easily with the help of Cryptocurrencies use. 

Between March 2021 and April 2022, the FCA noted that Crypto financial scam cases surged rapidly and in that period approximately 432 cases had been filed. 

New UK Prime Minister Rishi Sunak

In late October 2022, Rishi Sunak was elected as the prime minister of the UK by members of the Conservative party. Mr. Rishi is an Indian origin person.

In the past, Rishi passed many positive statements in favour of Cryptocurrencies. The majority of the people believe that the UK will bring better regulatory rooms for the Crypto sector because he is himself a Crypto supporter.

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