The Financial Conduct Authority has led an operation cracking down on illegal peer-to-peer crypto trading.
Working with HM Revenue & Customs and the South West Regional Organised Crime Unit (SWROCU), the FCA targeted eight premises suspected of engaging in peer-to-peer crypto trading. The FCA issued traders, who were told to stop engaging in illegal activity, with cease and desist letters. Evidence found at on-site inspections is being used to support "a number" of ongoing criminal investigations, the FCA updated today (22 April). Individuals use peer-to-peer trading to buy and sell crypto directly with each other, instead of using a centralised exchange. No FCA-registered peer-to-peer cry...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
