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Story summary
- The UK's Serious Fraud Office has opened its first major cryptocurrency investigation into Basis Markets, which raised $28 million in 2021.
- Two men were arrested during raids in London and West Yorkshire amid suspected fraud and money laundering.
- Basis Markets informed investors in June 2022 that the project could not proceed due to potential new U.S. regulations.
- SFO Director Nick Ephgrave emphasized the agency's commitment to tackling cryptocurrency fraud.
