FCA flags 38 unauthorized firms in one week as clone scams spike

FCA flagged 38 unauthorized and clone firms in one week, signaling a spike in scam activity that risks crypto and DeFi users as well as traditional investors. UK consumers are urged to check the FCA warning list before dealing with any financial firm; heightened regulatory scrutiny improves security and investor protection but may weigh on crypto adoption and market confidence. Keywords: crypto, DeFi, CEX, DEX, regulation, security, adoption, scams, investor protection.