The London P2P sweep: UK FCA raids eight illegal peer-to-peer trading hubs
The UK's FCA raided eight illegal peer-to-peer crypto trading hubs in London to combat unregistered operations and financial crime risks.Summary
The UK Financial Conduct Authority (FCA), in collaboration with HMRC and the South West Regional Organised Crime Unit, conducted a coordinated raid on eight London-based locations facilitating illegal peer-to-peer (P2P) crypto trading. Authorities issued cease-and-desist notices, citing a lack of mandatory registration and anti-money laundering controls. Officials emphasized that unregistered P2P traders present significant financial crime risks by potentially enabling the movement and laundering of illicit funds. This operation precedes the implementation of a broader regulatory regime expected by October 2027, as the FCA continues to warn consumers that unregistered platforms offer no protections or access to compensation schemes.
(Source：CoinDesk)