FCA Cracks Down on Illegal Cryptocurrency Trading in London

The UK Financial Conduct Authority (FCA) has taken a significant step in regulating cryptocurrency transactions in London. In a recent announcement, the regulator revealed that it had issued cease and desist orders to eight addresses suspected of engaging in illegal peer-to-peer crypto trading.

According to the FCA, the crackdown is based on evidence gathered during on-site inspections, which also supported ongoing criminal investigations under money-laundering and terrorist-financing regulations. The regulator worked closely with tax officials and police to carry out the operation.