The Financial Conduct Authority (FCA) announced the arrest of two individuals suspected of money laundering and running an illegal cryptoasset exchange, following a joint operation with the Metropolitan Police Service. The action included searches of four premises across southwest London and the seizure of seven crypto ATMs found during the searches. The FCA reiterated that it is illegal to operate a cryptoasset exchange or a crypto ATM in the UK without FCA registration, and that failure to comply with money laundering regulations is a criminal offence. The two suspects were interviewed under caution and released under investigation while enquiries continue.
Financial Conduct Authority 2025-07-16
Financial Conduct Authority leads Metropolitan Police operation targeting illegal crypto exchange activity and seizes seven crypto ATMs
The Financial Conduct Authority (FCA), in collaboration with the Metropolitan Police Service, arrested two individuals suspected of money laundering and operating an illegal cryptoasset exchange. The operation involved searches in southwest London and the seizure of seven crypto ATMs. The FCA emphasized the illegality of unregistered cryptoasset exchanges and ATMs in the UK and the criminality of non-compliance with money laundering regulations.