FCA Cracks Down on Unregistered Peer-to-Peer Crypto Trading

The UK's Financial Conduct Authority (FCA) has launched a crackdown on unregistered peer-to-peer crypto trading operations. In a series of nationwide raids, the FCA inspected eight locations suspected of running illegal activities.

According to the FCA, these operations pose a significant financial crime risk as they bypass anti-money laundering rules and operate without registration. The authority emphasized that no peer-to-peer crypto traders or platforms are currently registered with them.