UK FCA Launches Second Operation Against Unregistered Peer-to-Peer Crypto Trading in London
What happened
On September 10, 2026, the UK FCA, alongside HMRC and the Metropolitan Police, executed operations against three London locations suspected of illegal peer-to-peer cryptocurrency trading.
The Context
- Increased Enforcement: This operation is the second coordinated effort in 2026, following an April crackdown on eight sites, indicating a trend toward stricter oversight.
- Regulatory Framework: The UK's comprehensive crypto regulations are set to be fully implemented by late 2027, with application windows opening soon.
- Risk Awareness: The FCA highlighted that there are currently zero registered peer-to-peer crypto businesses in the UK, raising concerns about money laundering and financial crime.
The Number
— This is the number of FCA-registered peer-to-peer crypto businesses operating in the UK, underscoring the high risk for unregistered operators.
Takeaway
Expect ongoing enforcement actions as the FCA ramps up efforts to regulate the crypto landscape ahead of the 2027 framework.
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