skip to Main Content
bitcoin
Bitcoin (BTC) $ 98,489.39 5.26%
ethereum
Ethereum (ETH) $ 3,380.22 11.11%
tether
Tether (USDT) $ 1.00 0.19%
solana
Solana (SOL) $ 258.28 11.21%
bnb
BNB (BNB) $ 624.01 3.41%
xrp
XRP (XRP) $ 1.22 12.79%
dogecoin
Dogecoin (DOGE) $ 0.386198 4.00%
usd-coin
USDC (USDC) $ 1.00 0.23%
staked-ether
Lido Staked Ether (STETH) $ 3,374.60 10.93%
cardano
Cardano (ADA) $ 0.806118 1.66%

UK Set to Ban Cold Calls Selling Financial Products, Including Crypto

CoinDesk - Unknown

Camomile Shumba is a CoinDesk regulatory reporter based in the UK. She previously worked as an intern for Business Insider and Bloomberg News. She does not currently hold value in any digital currencies or projects.

The U.K. government is set to ban cold calls to sell financial products including crypto, according to a Wednesday announcement.

Fraud makes up over 40% of crime in the country, and costs the U.K. government £7 billion ($8.8 billion) a year, U.K. Prime Minister Rishi Sunak said in the statement. The country wants to crack down on fraud and scams, and is setting up a National Fraud Squad to tackle related crime with 400 new posts.

“We will ban cold calls on all financial products, so that anyone who receives calls trying to sell them products such as cryptocurrency schemes or insurance will know it’s a scam,” Sunak said.

The reported value of U.K. cryptocurrency fraud climbed 32% to £226 million ($283 million) in the year ending in September 2022.

The U.K. wants to clamp down on crypto used for crime and has been debating the Economic Crime and Corporate Transparency Bill, which will help law enforcement agencies seize and freeze crypto used for crime. Police have officers stationed nationwide to help investigate crypto-related crime.

Edited by Sandali Handagama.

DISCLOSURE

Please note that our

privacy policy,

terms of use,

cookies,

and

do not sell my personal information

has been updated

.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a

strict set of editorial policies.

CoinDesk is an independent operating subsidiary of

Digital Currency Group,

which invests in

cryptocurrencies

and blockchain

startups.

As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of

stock appreciation rights,

which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG

.

CoinDesk - Unknown

Camomile Shumba is a CoinDesk regulatory reporter based in the UK. She previously worked as an intern for Business Insider and Bloomberg News. She does not currently hold value in any digital currencies or projects.


Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.


CoinDesk - Unknown

Camomile Shumba is a CoinDesk regulatory reporter based in the UK. She previously worked as an intern for Business Insider and Bloomberg News. She does not currently hold value in any digital currencies or projects.

Loading data ...
Comparison
View chart compare
View table compare
Back To Top