The Financial Conduct Authority said on Thursday it had acted against illegal peer-to-peer cryptocurrency trading in London, targeting three sites suspected of running unregistered crypto businesses.
The regulator, working with tax officials and police under money laundering and terrorist financing rules, issued cease and desist letters at each location. It did not identify the premises.
"Anyone running an unregistered peer-to-peer crypto business should assume we are looking at them," said Steve Smart, the FCA's executive director of enforcement and market oversight.
Unregistered peer-to-peer crypto traders can be used to move and launder illicit funds, authorities say. According to the FCA, no peer-to-peer crypto trading businesses are currently registered in Britain.
The operation took place earlier in September and follows a similar crackdown in April, when eight London addresses were targeted for suspected illegal peer-to-peer crypto trading.
Crypto assets are seen as high-risk investments in Britain and remain largely unregulated, apart from anti-money laundering requirements and rules on financial promotions.
