FCA leads its first crackdown on illegal peer-to-peer crypto trading, targeting unregistered operators across London in a coordinated effort to disrupt activity linked to ML and wider FC risks

The action underscores the FCA’s growing focus on unregistered crypto activity as a significant financial crime risk—particularly as peer-to-peer trading can enable money laundering by bypassing regulated exchanges—and reinforces its broader enforcement strategy, which includes prior actions against illegal crypto ATMs and exchanges, while warning consumers to use only FCA-registered firms and highlighting continued collaboration with domestic and international partners to combat illicit finance…