FCA steps up crypto enforcement with raids on illegal London P2P trading sites

UK signals end of ‘light-touch’ era with multi-agency raid on peer-to-peer crypto hubs

Increased enforcement coincides with detailed regulatory guidance issued to crypto firms ahead of the full framework taking effect in late 2027.

ByOlivier Acuna|Edited bySheldon Reback
23 min ago
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• Britain’s Financial Conduct Authority, working with tax authorities and the Metropolitan Police, ordered traders at three London locations to stop operating illegal peer-to-peer cryptocurrency businesses.
• The FCA said no peer-to-peer cryptocurrency businesses are registered in Britain, meaning operators outside its regime evade safeguards intended to detect and prevent money laundering.
• Britain’s cryptocurrency framework takes full effect on Oct. 25, 2027, and firms may apply for FCA approval from Sept. 30 through Feb. 28, 2027.

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