UK Authorities Arrest Two in Connection with £1 Billion Illegal Crypto Exchange

FCA and Metropolitan Police conduct joint operation, seizing digital devices and investigating unregistered crypto activities.

Two suspects, aged 38 and 44, were released on bail after being interviewed under caution.
The FCA inspected offices while police seized digital devices from two London residences.
The investigation is part of a broader crackdown on illegal crypto operations following high-profile industry collapses.
The FCA has registered only 45 crypto firms out of over 300 applicants since January 2021.
A separate FCA list includes over 13,000 suspected illegal crypto operations in the UK.