FCA and partners continues crackdown on illegal crypto trading

Sintesi Lynx

The FCA and partners have taken further action against illegal peer-to-peer crypto trading in London. The FCA has carried out further operations with partners to disrupt illegal peer-to-peer crypto trading across multiple London locations.Working with HM Revenue & Customs (HMRC) and the Metropolitan Police Service, the FCA targeted 3 premises suspected of illegal peer-to-peer crypto trading.Cease and desist letters were issued at all 3 premises, requiring traders to stop any suspected illegal crypto businesses.Peer-to-peer trading is when individuals buy and sell crypto directly with each other. Anyone doing this by way of business in the UK requires appropriate registration. A small number of FCA-registered firms carry on peer-to-peer cryptoasset activities as part of a broader range of registered activities. However, there are currently no solely FCA-registered peer-to-peer crypto