US EditionUk Targets Illegal Crypto Trading in London Crackdown
Officials issued cease-and-desist notices and gathered evidence as the FCA said no peer-to-peer crypto traders are registered in Britain.
- On Wednesday, the Financial Conduct Authority and His Majesty's Revenue & Customs targeted eight London addresses suspected of illegal peer-to-peer crypto trading in their first joint operation.
- British law mandates that crypto exchange providers register with the FCA, yet no P2P crypto traders currently hold this required registration in Britain.
- Officials issued cease-and-desist notices at each site, gathering evidence for "ongoing criminal investigations," the FCA stated, as law enforcement aims to disrupt routes used to move illicit funds.
- Steve Smart, the FCA's executive director of enforcement and market oversight, warned that unregistered P2P traders pose significant financial crime risks, leaving users without Financial Ombudsman Service protections.
- As Britain prepares to launch a broader crypto regulatory regime by October 2027, Imogen Makin, counsel at law firm WilmerHale, noted the operation shows the FCA "is acting" on its priorities, signaling continued crackdowns.
22 Articles
22 Articles
FCA Raids Multiple Sites Linked to Illegal P2P Crypto Trading
TL;DR UK authorities carried out coordinated raids across 8 locations tied to unregistered peer-to-peer crypto trading, issuing immediate cease-and-desist orders. The operation involved the Financial Conduct Authority, HM Revenue & Customs, and regional crime units, signaling tighter enforcement. Despite the crackdown, the move reflects growing institutional attention on crypto markets, which could accelerate clearer regulation and long-term ad…
FCA raids 8 illegal peer to peer crypto hubs in London
🚨 FCA raids 8 illegal $BTC peer to peer hubs in London. All sites lacked mandatory FCA registration and anti-money laundering checks. Continue Reading:FCA raids 8 illegal peer to peer crypto hubs in London The post FCA raids 8 illegal peer to peer crypto hubs in London appeared first on COIN...
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