FCA Cracks Down on Unregistered Crypto Trading in London Raids

The Financial Conduct Authority (FCA) has raided three London premises in an effort to crack down on unregistered peer-to-peer crypto trading.

The move is part of a broader effort to establish a comprehensive crypto authorization regime by 2027, which will subject additional crypto activities to FCA authorization requirements.

The FCA drew a distinction between personal and business crypto trading, stating that individuals can engage in personal trading without registration, but businesses offering crypto exchange services must be registered with the FCA.

The September raid comes on the heels of an earlier operation in April, which inspected eight premises in London and collected evidence for ongoing investigations into unregistered crypto operations.