The FCA has issued cease and desist letters at three London locations as it continues to clamp down on illegal peer-to-peer crypto trading.

The regulator, which has been working with HMRC and the Metropolitan Police Service, ordered three London premises to refrain from conducting suspected illegal crypto business.

Individuals buying and selling crypto directly with each other as a business require appropriate registration in the UK to prevent criminals moving and laundering illicit funds, but there are currently no FCA-registered peer-to-peer crypto businesses operating in the UK.

Steve Smart, executive director of enforcement and market oversight at the FCA, said: “Working with partners, we continue to track and disrupt illegal…