The United Kingdom’s Financial Conduct Authority, or FCA, has announced it has 50 active investigations as part of its efforts to crack down on unregistered crypto businesses.

On Thursday, the FCA made an announcement. it had opened more than 300 cases on unregistered crypto firms in the last six months “many of which may be scams.” In addition, the country’s financial watchdog said it was conducting 50 active investigations — which may include criminal probes — into authorized crypto businesses.