UK FCA Raids 8 Suspected Illegal Crypto P2P Businesses in London

The UK Financial Conduct Authority (FCA) has conducted raids on eight business locations across London suspected of engaging in illegal peer-to-peer cryptocurrency transactions. The FCA, working alongside HMRC and SWROCU, issued immediate cease-and-desist notices to each location during the inspections. The regulator clarified that commercial P2P cryptocurrency trading in the UK requires registration under anti-money laundering regulations, with official records showing no registered P2P crypto businesses currently operating in the country.