"The FCA's enforcement action targeted unregistered peer-to-peer crypto traders, emphasizing that these operations are illegal and pose significant financial crime risks. Steve Smart stated, 'We will use our powers and work with partners to disrupt them.'"
"Detective Inspector Ross Flay noted that the primary concern is money laundering, stating, 'The goal is to stop illegal traders from giving criminals a route to move, hide, and spend illicit funds.'"
On April 22, 2026, the U.K.'s Financial Conduct Authority raided eight premises suspected of illegal peer-to-peer crypto trading. This action involved issuing cease and desist letters to halt operations. Peer-to-peer trading, which allows individuals to buy and sell digital assets directly, requires FCA registration under U.K. law. Currently, no registered platforms operate legally. Evidence from the raids supports ongoing criminal investigations, with money laundering risks highlighted as a major concern by authorities.
Read at news.bitcoin.com
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