A spokesman for the FCA said it was unable to comment on specific cases but said: “We do have concerns about how complex offshore financing chains may be driving high-volume consumer claims, and we’re investigating this further as part of our market study.”

Courmacs received its funding for the motor finance mis-selling case in cash from Eram Capital, a company involved in arranging the Bitfinex Securities offering.

A spokesman for Eram said it arranged the financing alongside other investors. They suggested that these unnamed co-investors listed the loans on Bitfinex Securities.

Eram Capital added that it was not its explicit intention to raise capital through the issuance of tokens.

Bitfinex…