Share this article
UK Financial Watchdog Warns Over Unregistered Crypto Brokerage
The U.K.'s Financial Conduct Authority has warned investors over an unregistered brokerage that appears to be offering crypto-related derivatives.
By Wolfie Zhao
Updated Sep 13, 2021, 7:45 a.m. Published Mar 29, 2018, 1:00 p.m.
The U.K.'s financial regulator has issued a warning to investors over an unregistered brokerage firm that appears to be offering cryptocurrency-related derivatives in the country.
In a statement Thursday, the Financial Conduct Authority took aim at a firm called Olsson Capital, which, according to the regulator, is based in Sofia, Bulgaria.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
"This firm is not authorized by us and is targeting people in the U.K. Based upon information we hold, we believe it is carrying on regulated activities which require authorization," the agency said.
While the firm’s website is currently not accessible, information from Scambroker, a website that scrutinizes securities brokers and dealers, shows that the firm has been handling cryptocurrency trading services and is not registered with the FCA as a licensed broker.
The website further indicates that services available on Olsson Capital include contract for difference (CFD) trading on a variety of cryptocurrencies, including bitcoin, XRP, dash, ethereum, monero and litecoin. Further, investors need to deposit at least around $250 in order to open an account on the platform, ScamBroker states.
While Olsson Capital has not responded to email enquires from CoinDesk, comments on Scambroker from several investors have claimed that requests for withdrawals have not been proceeded even days after requests.
The notice comes as a continuation of the FCA's efforts to caution the public regarding trading in cryptocurrency-related derivatives, as such activities fall under the jurisdiction of the agency.
As reported by CoinDesk, the regulator issued a warning to the public in November 2017, specifically regarding the risk associated with cryptocurrency CFDs.
And, earlier last year, a high level official at the FCA also stated that the public must "exercise a degree of caution" with such products.
London image via Shutterstock
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Bitcoin’s Deep Correction Sets Stage for December Rebound, Says K33 Research
K33 Research says market fear is outweighing fundamentals as bitcoin nears key levels. December could offer an entry point for bold investors.
What to know:
- K33 Research says bitcoin’s steep correction shows signs of bottoming, with December potentially marking a turning point.
- The firm has argued that the market is overreacting to long-term risks while ignoring near-term signals of strength, like low leverage and solid support levels.
- With likely policy shifts ahead and cautious positioning in futures, K33 sees more upside potential than risk of another major collapse.
Top Stories
