Initial Coin Offerings Draw U.K. Scrutiny Over $4 Billion Market

The U.K. Financial Conduct Authority fired a warning shot across the bow of the roughly $4 billion initial coin offering market, saying it will examine the industry to determine if more regulation is necessary.

Since highlighting risks to investors from ICOs in September, the watchdog said Dec. 15 that it has seen the market evolve at “great speed” and has decided to start a broader review. Depending on how an ICO is structured, it may fall under the FCA’s oversight, the authority said.

“We intend to gather further evidence on market developments and to conduct a deeper examination of this ...