FCA issues another warning, this time against Bitcoin Evolution

The Financial Conduct Authority (FCA) in the UK notifies all companies. It reviews operations to ensure companies have the necessary licenses and permits to operate in the country and has already issued warnings against several digital currency companies that it believes are fraudulent . His goal wasn’t 100% accurate, but the message is still clear – play by the rules or suffer the consequences. The FCA has now issued another notice calling the digital asset trading platform Bitcoin Evolution for illegal operations.

The FCA had believed Kraken was operating illegally in the UK but backed off when it found that the US exchange was not trying to do local business. Still, the warning served its purpose as it exposed two scammers posing as Kraken employees. The regulator then investigated the BitMEX exchange, which for some puzzling reason has never denied the allegation of illegally working in the country.

As with these previous warnings, the FCA has broken its standard template with Bitcoin Evolution claiming that it may “offer financial services or products in the UK” despite not having a license or authorization to operate in the country. As a result, the regulator warns that the trading platform could be nothing more than a scam and suggests users to stay away.

The chances that Bitcoin Evolution is a fraudulent platform are high. The company has maintained an aggressive marketing strategy that has involved a number of celebrities including Daniel Radcliffe and Hugh Jackman, and Manchester United manager Alex Ferguson. Since none of them had a relationship with the company, creating fake marketing campaigns can only be the work of fake companies.

The scammers aren’t very creative either. According to previous reports, Bitcoin Evolution is the reincarnation of Bitcoin Revolution, a website that has already been forced to shut down because it was nothing more than a scam. The fact that it can offer “0.01 second trade executions without risk” and a “99.4% trade accuracy” should be enough to make anyone roll their eyes and walk away. There are sister sites too, like Bitcoin Trader, Bitcoin Secret, and Bitcoin Formula, that were created to spread the crap.

The digital asset community has already proven that it is not that gullible and not so easy to fall for fraud. However, there will always be those who try to take advantage of others for their own lack of intellect, and continuing to call these people is the only way to get them to stop.

New to Bitcoin? Check out CoinGeek’s Bitcoin For Beginners section, the ultimate resource guide, to learn more about Bitcoin – as originally envisioned by Satoshi Nakamoto – and blockchain.

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