FCA Targets Three More London Sites Over Unregistered P2P Crypto Trading

This signals a shift in UK enforcement from targeting large exchanges toward the informal P2P layer, where registration under money-laundering rules has often been treated as optional. The practical effect falls on small P2P operators and their counterparties, since unregistered venues typically sit outside formal dispute or compliance channels. The enforcement chief's warning that operators "should assume we are looking at them" suggests deterrence is now as much the goal as individual site actions. Whether this pushes P2P activity toward registered venues or further into less visible channels is the open question.