In London, illegal crypto exchanges are being shut down ❌
The UK Financial Conduct Authority (FCA), together with the HM Revenue and Customs (HMRC) and the police, carried out another operation against illegal crypto trading.
On September 10, authorities inspected three locations in London where, according to the regulator, unregistered P2P crypto exchangers could be operating. At all three addresses, operators were issued orders to stop their activities.
The issue is specifically P2P trading conducted as a business. In the UK, this kind of activity requires registration, and right now there are no registered P2P crypto businesses in the country.
The FCA believes that unregistered exchanges may be used to move and launder illegal funds, since they operate outside the established financial control procedures.
This is the second such operation in London within a year. In April, the regulator, along with its partners, checked eight more addresses, and the materials collected then are now being used in criminal investigations.
#P2P #CryptoExchange #CryptoRegulation
The UK Financial Conduct Authority (FCA), together with the HM Revenue and Customs (HMRC) and the police, carried out another operation against illegal crypto trading.
On September 10, authorities inspected three locations in London where, according to the regulator, unregistered P2P crypto exchangers could be operating. At all three addresses, operators were issued orders to stop their activities.
The issue is specifically P2P trading conducted as a business. In the UK, this kind of activity requires registration, and right now there are no registered P2P crypto businesses in the country.
The FCA believes that unregistered exchanges may be used to move and launder illegal funds, since they operate outside the established financial control procedures.
This is the second such operation in London within a year. In April, the regulator, along with its partners, checked eight more addresses, and the materials collected then are now being used in criminal investigations.
#P2P #CryptoExchange #CryptoRegulation
