The Financial Conduct Authority (FCA), working with HM Revenue & Customs and the Metropolitan Police Service, targeted three London premises suspected of illegal peer-to-peer crypto trading on Sept. 10, 2026. Cease and desist letters were issued at each premises, requiring traders to stop any suspected illegal crypto business. Anyone conducting peer-to-peer crypto trading as a business in the UK must hold appropriate FCA registration, but no such businesses are currently registered. The FCA said unregistered traders can facilitate money laundering by operating outside required controls. The action follows operations in April, evidence from which is supporting criminal investigations and other enforcement action.
2026-09-17Financial Conduct Authority
UK Financial Conduct Authority targets three London premises in crackdown on illegal peer-to-peer crypto trading
The Financial Conduct Authority and partner agencies targeted three London premises suspected of illegal peer-to-peer crypto trading and issued cease and desist letters. No peer-to-peer crypto businesses are currently registered with the FCA, although registration is required when the activity is conducted as a business in the UK.