The UK Financial Conduct Authority (FCA), in collaboration with the Metropolitan Police Service, conducted an operation leading to the arrest of two individuals, aged 38 and 44, suspected of running an illegal crypto asset exchange. It is believed that over £1 billion of unregistered crypto assets were traded through this business, the FCA said on Thursday. The financial authority inspected offices and the police seized several digital devices from two residential properties in London. Both suspects were interviewed under caution and released on bail. The FCA emphasizes that crypto asset exchange providers must be registered and comply with UK money laundering regulations to operate legally. The investigation is ongoing.
UK Crackdown: Illegal Crypto Exchange Operators Arrested in £1 Billion Trading Bust
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