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U.K. Regulators Approve a Crypto Hedge Fund for First Time

(Bloomberg) Prime Factor Capital Ltd., a London-based hedge fund manager set up by former employees of BlackRock Inc. and RWE AG, became the first investment firm focused on cryptocurrencies to win the stamp of approval from U.K. regulators. The company said in a July 1 statement it will be regulated as a full-scope alternative investment fund manager under European Union rules.

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