Thousands of savers at Ziglu, a British cryptocurrency fintech, are at risk of losing investments due to a $2.7 million shortfall. The company, which froze withdrawals in May, attracted customers with promises of high returns but used funds for operations. Directors accused of misusing customer funds, with 4,000 customers affected.

UK’s unclear digital asset regulation criticized by experts for lagging behind EU and US. Delayed regulatory action has cost the UK its early lead in distributed ledger finance. While the EU and US have clear guidelines for crypto, the UK’s FCA lacks a confirmed launch date for its crypto regime, causing industry concerns.

Read more at Cointelegraph: Ziglu Faces $2.7M Shortfall as Crypto Fintech Enters Special Administration