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FCA Cracks Down on Suspects in $1.2B Illegal Crypto Asset Business

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Two individuals were detained and questioned by the UK Metropolitan Police and the Financial Conduct Authority for allegedly running an illegal cryptocurrency operation exceeding 1 billion British pounds in the region.that “More than £1 billion of unregistered crypto assets are believed to have been bought and sold through this business.” The individuals arrested, aged 38 and 44, were questioned and subsequently released on bail by the FCA.

Therese Chambers, the Executive Director of Enforcement and Market Oversight at the FCA emphasized the agency’s commitment to preventing illegal crypto activities in the UK financial system. She stated,

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UK Regulator FCA Arrests Two People Associated With 1B-Pound Illegal Crypto BusinessCamomile Shumba is a CoinDesk regulatory reporter based in the UK. She previously worked as an intern for Business Insider and Bloomberg News. She does not currently hold value in any digital currencies or projects.
Source: CoinDesk - 🏆 291. / 63 Read more »