UK Conducts Second Crackdown on Illegal P2P Crypto Trading in London

The UK's Financial Conduct Authority (FCA) announced it conducted a second on-site inspection of illegal peer-to-peer (P2P) cryptocurrency transactions in London alongside HM Revenue & Customs and the London Metropolitan Police. The authorities issued closure orders to three suspected business locations operating unregistered P2P crypto trading services. Under UK regulations, commercial P2P cryptocurrency trading businesses must be registered with the FCA, but currently no such registered P2P crypto trading businesses exist in the country.