More than 1 billion [pounds] of unregistered crypto assets are believed to have been bought and sold through this business, the regulator said.
The FCA has an important role in keeping dirty money out of the U.K. financial system. These arrests show its commitment to stopping illegal crypto operations in the country.
Since January 2021, crypto firms must be registered with the FCA under anti-money laundering rules. Only 44 out of over 300 companies have successfully registered.
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