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Uk 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.
29 Articles
29 Articles
UK FCA Raids Illegal P2P Crypto Traders, Tightens Oversight
The post UK FCA Raids Illegal P2P Crypto Traders, Tightens Oversight appeared on BitcoinEthereumNews.com. Terrill Dicki Apr 22, 2026 15:08 In a first, the UK FCA targets unregistered P2P crypto trading with nationwide raids, signaling a tougher stance on illicit activity in digital assets. The UK’s Financial Conduct Authority (FCA) has launched its first coordinated crackdown on illegal peer-to-peer (P2P) cryptocurrency trading, raiding eight …
UK cracks down on illegal crypto trading in sweeping London raids - VinciWorks
The FCA has moved into a new phase of crypto regulation with coordinated raids on eight illegal peer-to-peer (P2P) crypto trading hubs across London. This enforcement action represents a shift in how regulators are tackling financial crime in the digital asset ecosystem. Regulators have warned about the risks posed by unregistered crypto activity for years. It appears that they are now trying to physically dismantle it. In a joint operation with…
UK’s FCA Raids Multiple Sites Suspected of Illegal P2P Crypto Operations
The UK’s FCA has raided multiple locations linked to illegal P2P crypto trading operations. Authorities issued cease-and-desist notices and launched investigations with support from law enforcement agencies. The move reflects a broader crackdown on unregistered crypto activity amid rising financial crime concerns.
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