FCA Targets Three London Premises In Illegal P2P Crypto Trading Crackdown

The UK Financial Conduct Authority (FCA), in collaboration with HMRC and the Metropolitan Police, inspected three London commercial premises on September 10 suspected of hosting unregistered peer-to-peer crypto businesses. Authorities issued cease-and-desist notices and gathered intelligence during the operation. This enforcement action targets entities operating outside the UK's anti-money laundering and financial promotion regulatory framework, rather than licensed exchanges. The move coincides with the upcoming launch of the FCA's new crypto authorization gateway, signaling a dual approach of providing clear regulatory pathways for compliant firms while increasing pressure on non-compliant operators.