UK Financial Conduct Authority Conducts Raids on Illegal Crypto Traders in London
The UK's Financial Conduct Authority (FCA) led a coordinated crackdown on illegal peer-to-peer crypto trading in London, conducting raids on eight premises with tax authorities and organized crime units. The operation, under the Money Laundering, Terrorist Financing and Transfer of Funds Regulations 2017, aims to disrupt unregistered traders and prevent money laundering. The FCA emphasized that all P2P trading in the UK currently operates outside regulatory oversight.
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Topics: crypto regulation financial crime law enforcement money laundering peer-to-peer trading