FCA Targets Three London Premises In Illegal P2P Crypto Trading Crackdown
The UK Financial Conduct Authority stepped up enforcement against illegal peer-to-peer crypto trading in London by inspecting three commercial premises suspected of running unregistered crypto businesses. Working with HMRC and the Metropolitan Police, teams visited the sites on September 10, issued cease-and-desist notices, and collected intelligence. The action targets firms operating outside the UK’s crypto regulatory framework, not licensed exchanges or mainstream trading venues. It comes as the FCA prepares to open a new authorisation gateway at the end of September, while existing anti-money-laundering registration and financial promotions rules already apply. The broader message is that the UK wants crypto businesses to operate, but only if they comply with regulated financial standards.
