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Networks on the hook and Sipp firms sweat: the week in news

The platform is will aim to generate revenue by charging a fee for transactions made through the site.  

Cryptocurrencies soared in popularity at the end of 2017 as the value of Bitcoin sky-rocketed, but there are concerns around the security and viability of them – they have been banned in several countries.

5) Sipp speculation

Sipp giant Dentons Pension Management this week warned providers could have to wind up their operations depending on the outcome of a court case.

Carey Pensions is facing claims of up to £3m after it was accused of working with unregulated introducers to facilitate investments in storage pods which were deemed unsuitable and "worthless".

But it has hit back at those allegations and said the investor knew of the risks he was taking in investing his £50,000 pension into storage pods from Store First, which later lost the majority of their value.

The Fos and FSCS have historically considered claims where no regulated advice was involved as outside their remit, but the compensation scheme announced this year it had accepted claims related to three Sipp firms.

Dentons technical services director Martin Tilley warned a ruling against Carey could rattle the market and cause wind-ups.