The UK Financial Conduct Authority, working with HM Revenue and Customs and the Metropolitan Police Service, took action against three London sites suspected of conducting illegal peer-to-peer cryptoasset trading and issued cease-and-desist notices. The FCA said that anyone carrying on peer-to-peer crypto trading by way of business in the UK must hold the proper registration, adding that no registered peer-to-peer crypto businesses are currently operating in the country. Steve Smart, the FCA’s joint executive director of enforcement and market oversight, said the regulator will keep tracking and tackling illegal crypto activity. Detective Chief Inspector Sathish Alalasundaram of the Metropolitan Police said law enforcement agencies are working to address criminal activity involving digital assets. The operation took place on Sept. 10.
The UK Financial Conduct Authority (FCA), together with HM Revenue and Customs (HMRC) and the Metropolitan Police Service in London, took action against three London venues suspected of carrying out illegal peer-to-peer cryptoasset trading. The agencies also issued cease-and-desist notices.
FCA says business P2P crypto trading requires registration
The FCA said that peer-to-peer crypto trading conducted by way of business in the UK requires appropriate registration. It added that there are currently no registered peer-to-peer crypto businesses in operation.
Officials comment on the operation
Steve Smart, the FCA’s joint executive director of enforcement and market oversight, said the regulator would continue to track and tackle illegal crypto activity.
Detective Chief Inspector Sathish Alalasundaram of the Metropolitan Police said law enforcement agencies are working to address criminal activity involving digital assets.
Timing
The action took place on Sept. 10.
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