FCA - Suspects Arrested Over Alleged $1.2B Illegal Crypto Business By United Kingdom's FCA | Benzinga
The Financial Conduct Authority (FCA) and the Metropolitan Police Service in the United Kingdom have arrested two individuals suspected of running an unregistered crypto asset exchange worth over 1 billion British Pounds ($1.2 billion).
What Happened: The operation highlights the FCA’s commitment to combating financial crimes and ensuring the integrity of the UK’s financial system.
The suspects, aged 38 and 44, were apprehended following an FCA-led inspection of their associated offices.
Additionally, the police seized several digital devices during searches of two residential properties in London.
Both individuals were interviewed under caution by the FCA and have been released on bail pending further investigation.
Therese Chambers, Executive Director of Enforcement and Market Oversight at the FCA, emphasized the importance of this operation in safeguarding the ...