🚨 $1.2 Billion Illegal Crypto Business Busted 🚨 😱😱🌊

💥 Major Arrest by FCA:The UK's Financial Conduct Authority (FCA) has arrested two individuals suspected of running an illegal crypto asset exchange.

Their business allegedly traded over 1 billion British pounds ($1.2 billion) in unregistered crypto assets.👮‍♂ Crackdown on Illicit Activities:On June 19, the FCA conducted raids on offices associated with the suspects, seizing multiple digital devices.

This action underscores the agency's commitment to combating financial crime and maintaining the integrity of the UK's financial system.💬 FCA's Stance:Therese Chambers, FCA's executive director of enforcement and market oversight, highlighted the regulator's dedication to preventing illicit funds from infiltrating the UK financial system.

She stated:“These arrests show we will do everything in our power to stop crypto firms from operating illegally in the UK.”🔍

Ongoing Investigation:The two suspects have been interviewed and released on bail as the investigation continues.

Since January 2021, crypto asset exchange operators in the UK must register with the FCA and comply with money laundering regulations to operate legally.What are your thoughts on this bust?

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