FCA Inspects Three London Premises For Illegal P2P Crypto Trading
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The Financial Conduct Authority (FCA), in collaboration with HMRC and the Metropolitan Police, inspected three commercial premises in London on September 10 over suspected illegal peer-to-peer (P2P) crypto trading. Cease-and-desist notices were issued to the unregistered businesses involved. This action is part of the FCA's broader enforcement strategy against unregistered crypto operations as the UK prepares for a new regulatory framework, with the FCA's authorisation gateway set to open at the end of September. The FCA aims to ensure that crypto businesses comply with anti-money-laundering regulations and financial promotion rules. The regulator's recent actions indicate a focus on enforcing compliance among firms operating outside the legal framework, rather than targeting licensed exchanges.
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