FCA and Partners Continue Crackdown on Illegal Crypto Trading
Key Takeaways
- 01The FCA announced coordinated enforcement action against suspected illegal peer-to-peer crypto trading on 17 September 2026.
- 02The action included cease-and-desist letters to three London premises.
- 03The FCA said it had gathered evidence to support criminal investigations.
- 04The operation highlights the risk of regulatory and criminal action for those facilitating cryptoasset trading outside UK legal requirements.
The UK Financial Conduct Authority (FCA) has reported coordinated action against suspected illegal peer-to-peer crypto trading in London. The announcement, published on 17 September 2026, says the action included cease-and-desist letters sent to three London premises and evidence gathered to support criminal investigations.
The operation forms part of the FCA’s enforcement activity against cryptoasset trading conducted outside applicable UK legal and regulatory requirements. Peer-to-peer trading generally involves individuals or businesses directly exchanging cryptoassets or fiat currency without using a conventional exchange.
The affected premises face demands to stop the suspected activity, while the evidence collected may be used in criminal investigations. The announcement signals that businesses and individuals facilitating unregistered or otherwise unlawful cryptoasset trading may face both regulatory intervention and potential criminal enforcement.