FCA Targets London Crypto Platforms Amid Regulatory Crackdown

The UK's Financial Conduct Authority (FCA) has launched an investigation into three London-based peer-to-peer cryptocurrency platforms in collaboration with HM Revenue and Customs (HMRC) and the police. This move follows regulatory concerns about anti-money laundering practices in the crypto industry. The FCA has been cracking down on unregulated businesses, including those dealing in cryptocurrencies. In a separate development, iFOREX has revised its first-half earnings forecast downward. AvaTrade has also announced that it will be closing its Polish office due to changing market conditions. These developments highlight ongoing regulatory scrutiny and shifting market dynamics within the fintech sector.