---
title: FCA cracks down on illegal peer-to-peer crypto trading
description: FCA cracks down on illegal peer-to-peer crypto trading
---

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# [FCA cracks down on illegal peer-to-peer crypto trading](https://www.plenitudeconsulting.com/news-insights/fca-cracks-down-on-illegal-peer-to-peer-crypto-trading)

 Written by [Insight & Partnership Team](https://www.plenitudeconsulting.com/news-insights/author/insight-partnership-team) | Apr 27, 2026 3:23:04 PM

 

Key developments include:

➡️ **Coordinated Enforcement Action:** The FCA, HMRC and SWROCU targeted 8 premises suspected of illegal peer-to-peer crypto trading;

➡️ **Immediate Disruption Measures:** The FCA issued cease and desist letters at each site, requiring traders to stop illegal activity immediately;

➡️ **Ongoing Criminal Investigations:** Evidence gathered during on-site inspections is supporting multiple active criminal investigations;

➡️ **Unregistered Activity Prohibited:** Peer-to-peer crypto trading requires FCA registration, with no registered traders or platforms currently operating in the UK;

➡️ **Financial Crime Risk Exposure:** Authorities highlight that unregistered crypto trading provides channels for criminals to move, disguise and spend illicit funds;

➡️ **Established Enforcement Track Record:** The FCA previously prosecuted illegal crypto ATM networks and supported arrests linked to unregistered crypto exchanges;

➡️ **National Risk Alignment:** The UK’s National Risk Assessment identifies cryptoassets as an increasing vector for money laundering and terrorist financing ML/TF; and

➡️ **Consumer Protection Messaging:** The FCA continues to warn consumers to use only FCA-registered firms and recognise the high-risk nature of crypto investments.

✅ Firms should ensure cryptoasset activities are fully registered, strengthen controls over peer-to-peer exposure, and enhance AML frameworks to address crypto-related financial crime risks.

 

[View full post](https://www.plenitudeconsulting.com/news-insights/fca-cracks-down-on-illegal-peer-to-peer-crypto-trading)

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