The UK FinancialConduct Authority has carried out further operations with law enforcementpartners against illegal peer-to-peer crypto trading in London.The regulator workedwith HM Revenue & Customs and the Metropolitan Police Service to targetthree premises suspected of being involved in illegal peer-to-peer cryptotrading.London's trading industry is coming home!The operation follows the FCA's Aprilaction against illegalpeer-to-peer crypto trading businesses in London. Evidence gathered during that action is beingused to support criminal investigations and other enforcement measures.Three Sites Receive Crypto Cease OrdersCease and desistletters were issued at all three locations, requiring the traders to stop anysuspected illegal crypto businesses.Peer-to-peer cryptotrading involves individuals buying and selling crypto directly with eachother. Where the activity is carried out by way of business in the UK, theoperator must have appropriate registration with the FCA.There are currently noFCA-registered peer-to-peer crypto businesses operating in the UK.The FCA saidunregistered peer-to-peer traders operating by way of business can provide aroute for criminals to move and launder illicit funds. Such operators areoutside the FCA registration regime and therefore do not operate withincontrols designed to detect and prevent money laundering.“Working withpartners, we continue to track and disrupt illegal crypto activity,” SteveSmart, executive director of enforcement and market oversight at the FCA, said.“Anyone running an unregistered peer-to-peer crypto business should assume weare looking at them.”FCA Pursues Illegal ATMs, CryptoExchangeThe MetropolitanPolice Service said cryptocurrency can create challenges for law enforcementbecause funds can be moved quickly across jurisdictions.The regulator has alsotaken action against other forms of illegal cryptoasset activity in the UK.In one case, the FCAprosecuted the operator of an unlawful crypto ATM network. It has alsosupported the arrest of two individuals suspected of operating an illegalcrypto exchange.This article was written by Tareq Sikder at www.financemagnates.com.