FCA, HMRC and Met Police intensify crackdown on illegal crypto trading, targeting 3 unregistered P2P businesses in London and issuing cease-and-desist letters at all three

The FCA warns that unregistered P2P crypto activity can provide criminals with routes to move and launder illicit funds outside established AML controls, highlighting the continued focus of regulators and law enforcement on informal crypto channels operating outside the UK registration regime. The latest action builds on the FCA’s April crackdown, with evidence gathered during that operation now supporting criminal investigations and further enforcement..