{"id":36607,"date":"2026-04-26T09:32:08","date_gmt":"2026-04-26T09:32:08","guid":{"rendered":"https:\/\/buvei.com\/blog\/?p=36607"},"modified":"2026-04-26T09:32:08","modified_gmt":"2026-04-26T09:32:08","slug":"fca-conducts-first-raids-on-illegal-uk-p2p-crypto-trading","status":"publish","type":"post","link":"https:\/\/buvei.com\/blog\/fca-conducts-first-raids-on-illegal-uk-p2p-crypto-trading\/","title":{"rendered":"FCA Conducts First Raids on Illegal UK P2P Crypto Trading"},"content":{"rendered":"<p id=\"p-rc_1797e9bf3865e89d-54\" data-path-to-node=\"4\"><b data-path-to-node=\"4\" data-index-in-node=\"0\">Executive Summary:<\/b><span class=\"citation-83\"> In a joint operation conducted on <\/span><b data-path-to-node=\"4\" data-index-in-node=\"53\"><span class=\"citation-83\">April 22, 2026<\/span><\/b><span class=\"citation-83 citation-end-83\">, the FCA inspected eight locations across London linked to illegal P2P crypto trading.<\/span> <span class=\"citation-82 citation-end-82\">The raids resulted in the issuance of immediate cease-and-desist orders and the seizure of evidence to support ongoing criminal investigations.<\/span> <span class=\"citation-81 citation-end-81\">This move signals that the FCA is transitioning from reactive prosecutions to proactive, multi-agency disruption of unregistered crypto activity.<\/span><\/p>\n<h2 data-path-to-node=\"6\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-36631\" src=\"https:\/\/wordpress.buvei.com\/wp-content\/uploads\/2026\/04\/\u672a\u547d\u540d\u7684\u8bbe\u8ba1-68-1.webp\" alt=\"\" width=\"1600\" height=\"896\" srcset=\"https:\/\/wordpress.buvei.com\/wp-content\/uploads\/2026\/04\/\u672a\u547d\u540d\u7684\u8bbe\u8ba1-68-1.webp 1600w, https:\/\/wordpress.buvei.com\/wp-content\/uploads\/2026\/04\/\u672a\u547d\u540d\u7684\u8bbe\u8ba1-68-1-300x168.webp 300w, https:\/\/wordpress.buvei.com\/wp-content\/uploads\/2026\/04\/\u672a\u547d\u540d\u7684\u8bbe\u8ba1-68-1-1024x573.webp 1024w, https:\/\/wordpress.buvei.com\/wp-content\/uploads\/2026\/04\/\u672a\u547d\u540d\u7684\u8bbe\u8ba1-68-1-768x430.webp 768w, https:\/\/wordpress.buvei.com\/wp-content\/uploads\/2026\/04\/\u672a\u547d\u540d\u7684\u8bbe\u8ba1-68-1-1536x860.webp 1536w, https:\/\/wordpress.buvei.com\/wp-content\/uploads\/2026\/04\/\u672a\u547d\u540d\u7684\u8bbe\u8ba1-68-1-400x224.webp 400w, https:\/\/wordpress.buvei.com\/wp-content\/uploads\/2026\/04\/\u672a\u547d\u540d\u7684\u8bbe\u8ba1-68-1-800x448.webp 800w, https:\/\/wordpress.buvei.com\/wp-content\/uploads\/2026\/04\/\u672a\u547d\u540d\u7684\u8bbe\u8ba1-68-1-832x466.webp 832w, https:\/\/wordpress.buvei.com\/wp-content\/uploads\/2026\/04\/\u672a\u547d\u540d\u7684\u8bbe\u8ba1-68-1-1248x699.webp 1248w\" sizes=\"auto, (max-width: 1600px) 100vw, 1600px\" \/><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-36631\" src=\"https:\/\/wordpress.buvei.com\/wp-content\/uploads\/2026\/04\/\u672a\u547d\u540d\u7684\u8bbe\u8ba1-68-1.webp\" alt=\"\" width=\"1600\" height=\"896\" srcset=\"https:\/\/wordpress.buvei.com\/wp-content\/uploads\/2026\/04\/\u672a\u547d\u540d\u7684\u8bbe\u8ba1-68-1.webp 1600w, https:\/\/wordpress.buvei.com\/wp-content\/uploads\/2026\/04\/\u672a\u547d\u540d\u7684\u8bbe\u8ba1-68-1-300x168.webp 300w, https:\/\/wordpress.buvei.com\/wp-content\/uploads\/2026\/04\/\u672a\u547d\u540d\u7684\u8bbe\u8ba1-68-1-1024x573.webp 1024w, https:\/\/wordpress.buvei.com\/wp-content\/uploads\/2026\/04\/\u672a\u547d\u540d\u7684\u8bbe\u8ba1-68-1-768x430.webp 768w, https:\/\/wordpress.buvei.com\/wp-content\/uploads\/2026\/04\/\u672a\u547d\u540d\u7684\u8bbe\u8ba1-68-1-1536x860.webp 1536w, https:\/\/wordpress.buvei.com\/wp-content\/uploads\/2026\/04\/\u672a\u547d\u540d\u7684\u8bbe\u8ba1-68-1-400x224.webp 400w, https:\/\/wordpress.buvei.com\/wp-content\/uploads\/2026\/04\/\u672a\u547d\u540d\u7684\u8bbe\u8ba1-68-1-800x448.webp 800w, https:\/\/wordpress.buvei.com\/wp-content\/uploads\/2026\/04\/\u672a\u547d\u540d\u7684\u8bbe\u8ba1-68-1-832x466.webp 832w, https:\/\/wordpress.buvei.com\/wp-content\/uploads\/2026\/04\/\u672a\u547d\u540d\u7684\u8bbe\u8ba1-68-1-1248x699.webp 1248w\" sizes=\"auto, (max-width: 1600px) 100vw, 1600px\" \/>\u00a0A Market Without Permission<\/h2>\n<p id=\"p-rc_1797e9bf3865e89d-55\" data-path-to-node=\"7\"><span class=\"citation-80\">The core of the FCA\u2019s action is based on a simple regulatory reality: <\/span><b data-path-to-node=\"7\" data-index-in-node=\"70\"><span class=\"citation-80 citation-end-80\">There are currently no registered P2P crypto traders or platforms in the UK.<\/span><\/b><\/p>\n<ul data-path-to-node=\"8\">\n<li>\n<p id=\"p-rc_1797e9bf3865e89d-56\" data-path-to-node=\"8,0,0\"><b data-path-to-node=\"8,0,0\" data-index-in-node=\"0\">The <a href=\"https:\/\/buvei.com\/blog\/the-future-of-ai-payments-and-autonomous-transactions\/\">Regulatory Perimeter<\/a>:<\/b><span class=\"citation-79 citation-end-79\"> Under the Money Laundering Regulations 2017, anyone facilitating the exchange of crypto-assets must be registered with the FCA.<\/span> <span class=\"citation-78 citation-end-78\">Because no P2P operators have successfully registered, the entire sector currently operates outside the law.<\/span><\/p>\n<\/li>\n<li>\n<p id=\"p-rc_1797e9bf3865e89d-57\" data-path-to-node=\"8,1,0\"><b data-path-to-node=\"8,1,0\" data-index-in-node=\"0\">The \"Blanket\" Approach:<\/b><span class=\"citation-77 citation-end-77\"> This was not a raid on specific \"bad actors\" within a regulated industry; it was a strike against a business model that the FCA deems entirely illicit within UK borders.<\/span><\/p>\n<\/li>\n<\/ul>\n<h2 data-start=\"1124\" data-end=\"1167\"><a href=\"https:\/\/buvei.com\/?s=blog\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-28870 aligncenter\" src=\"https:\/\/wordpress.buvei.com\/wp-content\/uploads\/2026\/01\/buvei-4.png\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" srcset=\"https:\/\/wordpress.buvei.com\/wp-content\/uploads\/2026\/01\/buvei-4.png 1024w, https:\/\/wordpress.buvei.com\/wp-content\/uploads\/2026\/01\/buvei-4-300x90.png 300w, https:\/\/wordpress.buvei.com\/wp-content\/uploads\/2026\/01\/buvei-4-768x230.png 768w, https:\/\/wordpress.buvei.com\/wp-content\/uploads\/2026\/01\/buvei-4-400x120.png 400w, https:\/\/wordpress.buvei.com\/wp-content\/uploads\/2026\/01\/buvei-4-800x240.png 800w, https:\/\/wordpress.buvei.com\/wp-content\/uploads\/2026\/01\/buvei-4-832x249.png 832w\" alt=\"\" width=\"1024\" height=\"307\" \/><\/a><\/h2>\n<h2 data-path-to-node=\"9\"><span class=\"citation-76 citation-end-76\">The Core Risk: Money Laundering<\/span><\/h2>\n<p id=\"p-rc_1797e9bf3865e89d-58\" data-path-to-node=\"10\"><span class=\"citation-75\">The involvement of HMRC and a regional organised crime unit underscores the government\u2019s primary concern\u2014<\/span><b data-path-to-node=\"10\" data-index-in-node=\"105\"><span class=\"citation-75\">illicit finance<\/span><\/b><span class=\"citation-75 citation-end-75\">.<\/span><\/p>\n<ul data-path-to-node=\"11\">\n<li>\n<p id=\"p-rc_1797e9bf3865e89d-59\" data-path-to-node=\"11,0,0\"><b data-path-to-node=\"11,0,0\" data-index-in-node=\"0\"><a href=\"https:\/\/buvei.com\/blog\/instant-approval-virtual-credit-cards-no-deposit-2026-guide\/\">National Risk Assessment<\/a>:<\/b><span class=\"citation-74 citation-end-74\"> The UK government has repeatedly flagged crypto-assets as a high-risk channel for money laundering and terrorist financing.<\/span><\/p>\n<\/li>\n<li>\n<p id=\"p-rc_1797e9bf3865e89d-60\" data-path-to-node=\"11,1,0\"><b data-path-to-node=\"11,1,0\" data-index-in-node=\"0\"><span class=\"citation-73\">Disrupting the Route:<\/span><\/b><span class=\"citation-73 citation-end-73\"> Detective Inspector Ross Flay of the SWROCU noted that unregistered P2P traders provide an ideal route for criminals to \"move, disguise, and spend illegal money.\"<\/span> <span class=\"citation-72 citation-end-72\">By targeting these traders, law enforcement aims to cut off the \"off-ramps\" and \"on-ramps\" used by organised crime.<\/span><\/p>\n<\/li>\n<\/ul>\n<h2 data-path-to-node=\"13\"><span class=\"citation-71 citation-end-71\">Shift to an \"Active Disruption\" Model<\/span><\/h2>\n<p data-path-to-node=\"14\">This operation marks an evolution in how the FCA polices the digital asset space.<\/p>\n<table data-path-to-node=\"15\">\n<thead>\n<tr>\n<td><strong>Past Enforcement<\/strong><\/td>\n<td><strong>New Enforcement Model (2026)<\/strong><\/td>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td><span data-path-to-node=\"15,1,0,0\"><b data-path-to-node=\"15,1,0,0\" data-index-in-node=\"0\">Reactive:<\/b> Prosecuting individual illegal crypto ATM operators.<\/span><\/td>\n<td><span data-path-to-node=\"15,1,1,0\"><b data-path-to-node=\"15,1,1,0\" data-index-in-node=\"0\">Proactive:<\/b> Coordinated multi-agency raids on multiple locations simultaneously.<\/span><\/td>\n<\/tr>\n<tr>\n<td><span data-path-to-node=\"15,2,0,0\"><b data-path-to-node=\"15,2,0,0\" data-index-in-node=\"0\">Single Agency:<\/b> FCA-led investigations with police support.<\/span><\/td>\n<td><span data-path-to-node=\"15,2,1,0\"><b data-path-to-node=\"15,2,1,0\" data-index-in-node=\"0\">Inter-Agency:<\/b> Integrated operations involving tax authorities (HMRC) and organised crime units.<\/span><\/td>\n<\/tr>\n<tr>\n<td><span data-path-to-node=\"15,3,0,0\"><b data-path-to-node=\"15,3,0,0\" data-index-in-node=\"0\">Legal Focus:<\/b> Building a case for a single prosecution.<\/span><\/td>\n<td><span data-path-to-node=\"15,3,1,0\"><b data-path-to-node=\"15,3,1,0\" data-index-in-node=\"0\">Strategic Focus:<\/b> Immediate cessation of operations (cease-and-desist) and widespread evidence gathering.<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2 data-path-to-node=\"17\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-36151\" src=\"https:\/\/wordpress.buvei.com\/wp-content\/uploads\/2026\/04\/AI-and-Checkout-Free-Payments-Whats-Next-1.webp\" alt=\"\" width=\"1600\" height=\"896\" srcset=\"https:\/\/wordpress.buvei.com\/wp-content\/uploads\/2026\/04\/AI-and-Checkout-Free-Payments-Whats-Next-1.webp 1600w, https:\/\/wordpress.buvei.com\/wp-content\/uploads\/2026\/04\/AI-and-Checkout-Free-Payments-Whats-Next-1-300x168.webp 300w, https:\/\/wordpress.buvei.com\/wp-content\/uploads\/2026\/04\/AI-and-Checkout-Free-Payments-Whats-Next-1-1024x573.webp 1024w, https:\/\/wordpress.buvei.com\/wp-content\/uploads\/2026\/04\/AI-and-Checkout-Free-Payments-Whats-Next-1-768x430.webp 768w, https:\/\/wordpress.buvei.com\/wp-content\/uploads\/2026\/04\/AI-and-Checkout-Free-Payments-Whats-Next-1-1536x860.webp 1536w, https:\/\/wordpress.buvei.com\/wp-content\/uploads\/2026\/04\/AI-and-Checkout-Free-Payments-Whats-Next-1-400x224.webp 400w, https:\/\/wordpress.buvei.com\/wp-content\/uploads\/2026\/04\/AI-and-Checkout-Free-Payments-Whats-Next-1-800x448.webp 800w, https:\/\/wordpress.buvei.com\/wp-content\/uploads\/2026\/04\/AI-and-Checkout-Free-Payments-Whats-Next-1-832x466.webp 832w, https:\/\/wordpress.buvei.com\/wp-content\/uploads\/2026\/04\/AI-and-Checkout-Free-Payments-Whats-Next-1-1248x699.webp 1248w\" sizes=\"auto, (max-width: 1600px) 100vw, 1600px\" \/>What This Means for <a href=\"https:\/\/buvei.com\/blog\/using-your-affirm-virtual-card-on-amazon-easily\/\">Crypto Firms<\/a> and Users<\/h2>\n<p id=\"p-rc_1797e9bf3865e89d-61\" data-path-to-node=\"18\"><span class=\"citation-70 citation-end-70\">The message from Steve Smart, the FCA\u2019s executive director of enforcement, is unambiguous: \"We will use our powers and work with partners to disrupt them.\"<\/span><\/p>\n<ul data-path-to-node=\"19\">\n<li>\n<p id=\"p-rc_1797e9bf3865e89d-62\" data-path-to-node=\"19,0,0\"><b data-path-to-node=\"19,0,0\" data-index-in-node=\"0\"><span class=\"citation-69\">For Firms:<\/span><\/b><span class=\"citation-69 citation-end-69\"> Operating a P2P desk or platform without explicit FCA registration is a criminal offense.<\/span> <span class=\"citation-68 citation-end-68\">The \"wait and see\" approach to regulation is no longer viable; firms must secure registration or cease UK operations immediately.<\/span><\/p>\n<\/li>\n<li>\n<p id=\"p-rc_1797e9bf3865e89d-63\" data-path-to-node=\"19,1,0\"><b data-path-to-node=\"19,1,0\" data-index-in-node=\"0\"><span class=\"citation-67\">For Consumers:<\/span><\/b><span class=\"citation-67 citation-end-67\"> The FCA warns that dealing with unregistered P2P traders offers zero consumer protection.<\/span> <span class=\"citation-66\">Users are encouraged to use the <\/span><b data-path-to-node=\"19,1,0\" data-index-in-node=\"137\"><span class=\"citation-66\">FCA Firm Checker<\/span><\/b><span class=\"citation-66 citation-end-66\"> to verify the status of any crypto business before transacting.<\/span><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"19,2,0\"><b data-path-to-node=\"19,2,0\" data-index-in-node=\"0\"><span class=\"citation-65\">The 2027 Roadmap:<\/span><\/b><span class=\"citation-65\"> These raids occur as the UK prepares for a comprehensive crypto regulatory regime set to take effect by <\/span><b data-path-to-node=\"19,2,0\" data-index-in-node=\"122\"><span class=\"citation-65\">October 2027<\/span><\/b><span class=\"citation-65\">, with the licensing window expected to open in <\/span><b data-path-to-node=\"19,2,0\" data-index-in-node=\"182\"><span class=\"citation-65\">September 2026<\/span><\/b><span class=\"citation-65 citation-end-65\">.<\/span><\/p>\n<h2 data-start=\"1124\" data-end=\"1167\"><a href=\"https:\/\/buvei.com\/?s=blog\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-28870 aligncenter\" src=\"https:\/\/wordpress.buvei.com\/wp-content\/uploads\/2026\/01\/buvei-4.png\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" srcset=\"https:\/\/wordpress.buvei.com\/wp-content\/uploads\/2026\/01\/buvei-4.png 1024w, https:\/\/wordpress.buvei.com\/wp-content\/uploads\/2026\/01\/buvei-4-300x90.png 300w, https:\/\/wordpress.buvei.com\/wp-content\/uploads\/2026\/01\/buvei-4-768x230.png 768w, https:\/\/wordpress.buvei.com\/wp-content\/uploads\/2026\/01\/buvei-4-400x120.png 400w, https:\/\/wordpress.buvei.com\/wp-content\/uploads\/2026\/01\/buvei-4-800x240.png 800w, https:\/\/wordpress.buvei.com\/wp-content\/uploads\/2026\/01\/buvei-4-832x249.png 832w\" alt=\"\" width=\"1024\" height=\"307\" \/><\/a><\/h2>\n<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"Executive Summary: In a joint operation conducted on April 22, 2026, the FCA inspected eight locations across London&hellip;","protected":false},"author":4,"featured_media":36631,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"csco_singular_sidebar":"","csco_page_header_type":"","csco_page_load_nextpost":""},"categories":[4,6,1],"tags":[5691,5104,5088,5076],"class_list":{"0":"post-36607","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"category-news","9":"category-payment-basics","10":"tag-advertising-payments","11":"tag-prepaid-virtual-card","12":"tag-secure-online-payments","13":"tag-subscription-management","14":"cs-entry"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/buvei.com\/blog\/wp-json\/wp\/v2\/posts\/36607","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buvei.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buvei.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buvei.com\/blog\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/buvei.com\/blog\/wp-json\/wp\/v2\/comments?post=36607"}],"version-history":[{"count":0,"href":"https:\/\/buvei.com\/blog\/wp-json\/wp\/v2\/posts\/36607\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buvei.com\/blog\/wp-json\/wp\/v2\/media\/36631"}],"wp:attachment":[{"href":"https:\/\/buvei.com\/blog\/wp-json\/wp\/v2\/media?parent=36607"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buvei.com\/blog\/wp-json\/wp\/v2\/categories?post=36607"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buvei.com\/blog\/wp-json\/wp\/v2\/tags?post=36607"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}