FCA arrests two suspects involved in a $1.2 billion illegal crypto asset exchange, highlighting the agency’s efforts to combat financial crime.
The Financial Conduct Authority (FCA) in the United Kingdom said it arrested two individuals suspected of operating an illegal crypto asset exchange.
On June 19, the FCA said the illegal business was believed to have bought and sold more than 1 billion British pounds ($1.2 billion) worth of unregistered crypto assets. During raids of offices associated with the suspects, the FCA seized multiple digital devices.
Therese Chambers, the executive director of enforcement and market oversight at the FCA, said that the regulator plays an “important role” in keeping “dirty money out of the U.K. financial system.”
