UK’s FCA steps up enforcement on crypto
Unauthorised firms were targeted in a coordinated operation.
The UK’s Financial Conduct Authority has led its first coordinated crackdown on illegal crypto trading, targeting firms operating without authorisation. The action forms part of wider efforts to enforce compliance in the sector.
According to the Authority, the operation involved identifying and taking action against companies that unlawfully promoted or offered crypto services. The move aims to protect consumers from potential risks.
The regulator stated that illegal crypto promotions can expose users to financial harm and undermine market trust. It emphasised the importance of ensuring firms meet regulatory requirements before operating.
The Authority said the crackdown reflects a stronger enforcement approach to unauthorised crypto activity, with further action expected to support market integrity in the UK.
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