Crypto
Misleading financial promotion - risk warning absent (post-Oct 2023); Exchange frozen funds - AML review; Crypto investment scam - pig butchering / romance
Max award: £445,000 (from 1 Apr 2025)
Report immediately; FCA investigation - no individual remedy
Uphold rate: 34% (FOS 2024/25)
Key Legislation
Financial Services and Markets Act 2000 s.21; SI 2023/612; FCA PS23/6; Electronic Money Regulations 2011 (if e-money firm); PSR 2017 (if payment firm) — FSMA 2000 s.21; FCA PS23/6 (mandatory risk warnings; cooling off); CAFP Rules; EMR 2011; PSR 2017 Reg 91; MLR 2017 Reg 28; POCA 2002 s.335
Companies in This Sector
CoinbaseBinanceKrakeneToro (FCA 583263 - broader authorisation)
Annual complaint volume: 305,726 (FOS 2024/25 total)
Note: Compensation range: No individual compensation via FCA; possible civil claim via FSMA 2000 s.30