Insiders: Cryptocurrency payment company BCB Group was once the subject of an investigation by the UK's Financial Conduct Authority

ChainCatcher news, according to CoinDesk citing two informed sources, the crypto payment company BCB Group was once the subject of an investigation by the UK's financial services regulator, which has now concluded. The two informed sources requested anonymity due to the private nature of the matter.

The Financial Conduct Authority (FCA) issued a so-called s166 notice to BCB at the end of last year. This investigation has now concluded, and according to a source close to BCB, the outcome of the investigation is positive for the company. Additionally, a third informed source added that BCB is engaged in constructive negotiations with the regulator to discuss expanding its licensing scope.

BCB CEO Oliver Tonkin commented in an email: "BCB Group has always adhered to a compliance-first approach in its business activities and will continue to do so. We maintain regular, open, and transparent dialogue with all regulators, and from our perspective, our relationships with all regulators are in good standing. Our interactions with the FCA continue to be positive, and we have recently obtained permission to expand our regulatory scope in the UK, as we hope."