UK FCA Raids Eight Illegal P2P Crypto Trading Hubs in London

Peer-to-peer crypto trading allows buyers and sellers to exchange assets directly. Businesses providing such services in the UK must register with the Financial Conduct Authority under the Money Laundering Regulations 2017 and maintain anti-money-laundering controls. No P2P crypto operator is currently registered with the FCA, and the case marks a shift by the regulator from warnings to enforcement.

On April 22, 2026, the FCA said it had joined forces with HM Revenue & Customs and the South West Regional Organised Crime Unit to raid eight suspected illegal trading locations in London. Authorities issued immediate cease-and-desist notices at each site and gathered evidence supporting several criminal investigations. They did not disclose the transaction amounts involved, the value of assets seized or the number of arrests.