UK authorities raid three London premises over unregistered crypto trading
The FCA, HMRC and Metropolitan Police carried out raids at three London premises on September 10. The action targeted suspected unregistered crypto activity, including peer-to-peer trading businesses.
On September 10, 2026, the Financial Conduct Authority, HM Revenue and Customs and Metropolitan Police raided three London premises as part of action against suspected illegal crypto trading. The FCA disclosed the operation on September 17 and described cease-and-desist action against unregistered businesses.
The regulatory issue concerned operating a crypto business under the UK’s anti-money-laundering registration framework. Peer-to-peer trading can still involve a commercial intermediary arranging purchases or sales, rather than only two individuals transferring coins privately. When such a business handles Bitcoin, its regulatory duties arise from its activities around the asset, not from permission to alter Bitcoin itself.
The raids established an enforcement action, not a conviction or a general finding that every peer-to-peer Bitcoin trade was illegal. The episode showed authorities applying registration requirements to local trading operations whose customer-facing model could sit outside the familiar large-exchange interface.