FCA Cracks Down on Unregistered Crypto Trading in London

The UK's Financial Conduct Authority has taken decisive action against illegal peer-to-peer cryptocurrency trading in London. Raids at three locations suspected of running unregistered crypto ventures were conducted alongside tax authority and police, resulting in cease-and-desist letters issued to the operators.

The Financial Conduct Authority (FCA) of Britain announced on Thursday its efforts to combat illegal peer-to-peer cryptocurrency trading activities in London.

The operation, in collaboration with the country's tax authority and police force, targeted three locations suspected of engaging in unregistered crypto business activities.

Subsequently, the FCA has sent cease-and-desist letters to operators at these sites, though the specific premises have not been publicly identified.