UK's FCA Cracks Down on Illicit Crypto Trading Operations
The UK's Financial Conduct Authority (FCA) has continued its efforts to combat illicit cryptocurrency trading, teaming up with HM Revenue & Customs (HMRC) and the Metropolitan Police Service to disrupt suspected illegal peer-to-peer crypto trading operations in London.
According to a recent operation, cease and desist letters were issued at three premises suspected of engaging in unregistered peer-to-peer crypto trading, which is considered a way for criminals to launder illicit funds by operating outside the FCA's registration regime.
This latest crackdown follows a similar action taken by the FCA against illegal peer-to-peer crypto trading businesses in April 2026. The evidence gathered during that operation has been used to support criminal investigations and other enforcement actions.