UK authorities have carried out their first coordinated operation against suspected illegal peer-to-peer crypto trading, sending a clear and simple message to the market: once a person turns crypto dealing into a business, the state expects names, checks, records, and accountability.
The Financial Conduct Authority (FCA) said it worked with police and tax officials to visit eight London addresses linked to suspected illegal p2p crypto trading, issuing cease-and-desist letters at each site. Evidence gathered during the inspections is now supporting criminal investigations, according to the regulator, while Reuters reported that there are currently no FCA-registered peer-to-peer crypto traders in…
