The FCA has issued a £3,503,546 fine to CB Payments Limited (CBPL) for repeatedly breaching a requirement preventing it from offering services to high-risk customers.

Over 10,000 financial adverts and other promotions were withdrawn or changed last year following intervention from the FCA.

The Financial Conduct Authority has ruled out allowing access to bodies such as the Financial Services Compensation Scheme for crypto currency investors, even if they have received advice.

The Bank of England has called for regulation for cryptocurrency saying that crypto finance “poses risks to financial stability.”