UK's FCA to Spend $670K to Analyze Crypto Scams
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The UK’s Financial Conduct Authority (FCA) will give $670 000 to a third-party firm specializing in the cryptocurrency area that can "provide access to a platform with the robust and efficient analysis of cryptocurrencies." The regulator said in a tender offer the platform also should provide training and ongoing support.

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"As the supervisor of in scope cryptoasset activity in the UK, the FCA requires access to specialist services to support the analysis of cryptoasset blockchain data," the regulator said.

UK Police Say Over $200M Lost to Crypto Fraud This Year

The FCA has set the contract closing date for December 21, 2021. In September, the FCA said it is working on a blockchain-based system for regulatory reporting the Bank of England. FCA Chief, Nikhil Rathi, said at the annual Mansion House the agency wants to decrease expenses for regulatory reports which currently cost up to £4 billion (~$5,5 billion) a year.

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