FCA Cracks Down on Unregistered Crypto Trading Platforms in London

The Financial Conduct Authority (FCA) has targeted three more London sites for operating unregistered peer-to-peer crypto trading platforms. The move is part of an ongoing effort to regulate the burgeoning cryptocurrency market in the UK.

According to reports, the FCA sent warning letters to the operators of these platforms, informing them that their activities are not compliant with existing regulations. This means that they must either register with the FCA or cease operations immediately.

The affected sites have not been publicly disclosed by the FCA. However, it is understood that the agency has been monitoring these platforms for some time and has been considering action to bring them in line with regulatory requirements.