{
  "id": 8013318,
  "title": "UK watchdog targets three London sites suspected of illegal crypto trading",
  "url": "https://urgent.news/2026/09/17/uk-watchdog-targets-three-london-sites-suspected-of-illegal-crypto",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-17T11:24:42.000Z",
  "source": {
    "name": "Daily Maverick",
    "slug": "daily-maverick",
    "url": "https://www.dailymaverick.co.za/article/2026-09-17-uk-watchdog-targets-three-london-sites-suspected-of-illegal-crypto-trading/"
  },
  "original_language": "en",
  "account": "The Financial Conduct Authority (FCA) in Britain has taken action against three London premises suspected of running illegal peer-to-peer cryptocurrency trading businesses. In a statement on Thursday, the regulator, working alongside tax officials and police, issued cease and desist letters at each location. The identities of the sites were not disclosed.\n\nSteve Smart, the FCA's executive director of enforcement and market oversight, warned anyone operating an unregistered peer-to-peer crypto business to assume they are under investigation. Unregistered peer-to-peer crypto traders are often used to facilitate the movement and laundering of illicit funds.\n\nAccording to the FCA, there are currently no registered peer-to-peer crypto trading businesses operating in Britain. The regulator's latest operation comes after a similar crackdown in April, when they targeted eight London addresses suspected of engaging in illegal peer-to-peer crypto trading.\n\nCrypto assets are considered high-risk investments in Britain and are largely unregulated, with the exception of anti-money laundering requirements and rules regarding financial promotions.",
  "summary": "Britain's Financial Conduct Authority said on Thursday it had taken action against illegal peer-to-peer cryptocurrency trading in London, targeting three premises suspected of operating unregistered crypto businesses.",
  "key_points": [
    "FCA targets three London sites for illegal crypto trading",
    "Cease and desist letters issued at all locations",
    "No registered peer-to-peer crypto businesses in Britain"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}