UK FCA Conducts Raids on Eight London Locations Suspected of Illegal Peer-to-Peer Cryptocurrency Trading

According to Reuters, the UK’s Financial Conduct Authority (FCA) stated that it has jointly searched eight London locations suspected of operating illegal peer-to-peer cryptocurrency trading activities, together with tax authorities and police, and issued cease-and-desist letters to each site. The FCA said evidence obtained during on-site inspections supports multiple ongoing criminal investigations. This operation was conducted under anti-money laundering (AML) and counter-terrorist financing (CTF) regulations, aiming to prevent such operators from providing criminals with channels to transfer, conceal, and use illicit funds. Currently, no peer-to-peer cryptocurrency exchange operators are registered with the FCA in the UK.