😱 United Kingdom🇬🇧 steps up crackdown on P2P cryptocurrency trading

😱 United Kingdom🇬🇧 steps up crackdown on P2P cryptocurrency trading

The Financial Conduct Authority (FCA), HM Revenue and Customs, and the South West Regional Organised Crime Unit carried out their first joint operation targeting illegal cryptocurrency trading, conducting raids at 8 locations in London.

💡 During the operation, the FCA issued formal notices to traders requiring them to cease unlawful activities, stating that there are currently no officially registered P2P crypto traders or platforms in the United Kingdom.

💡 Between March and April, authorities from the United Kingdom, the United States 🇺🇸, and Canada 🇨🇦 conducted a joint anti-crypto fraud initiative known as “Operation Atlantic.” The operation led to the identification of 120 fraudulent websites, more than 20,000 victims, and the freezing of approximately USD 12 million.

💡 Earlier this month, the FCA launched consultations on a proposed crypto regulatory regime, expected to come into force in 2027. The framework will cover key areas including stablecoins, trading platforms, asset custody, and staking.

#news #Europe #USA #p2p #crypto

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