The Financial Conduct Authority (FCA) issued cease and desist letters on 10 September 2026 to three premises suspected of illegal peer-to-peer crypto trading. The letters require these premises to stop any suspected illegal crypto businesses.
This action is taken under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017.
The FCA's action applies to the three premises identified as operating unregistered peer-to-peer crypto trading businesses in London. Currently, there are no FCA-registered peer-to-peer crypto businesses operating in the UK.
The FCA has not specified a deadline for compliance, but it emphasizes the need for firms to align with regulatory requirements to avoid potential enforcement actions.
The FCA continues to work with partners, including HM Revenue & Customs and the Metropolitan Police Service, to combat financial crime and protect consumers from unregistered crypto activities.