🚨Crypto Crackdown! The Financial Conduct Authority (FCA) and Metropolitan Police have arrested two individuals suspected of running an illegal $1.3 billion crypto business. The suspects, aged 38 and 44, were released on bail after their offices were inspected and digital devices seized from two London residences.

Since January 2021, crypto services must be registered with the FCA under anti-money laundering rules. However, only 44 out of over 300 businesses have successfully registered.

The UK has recently empowered police with more authority to seize and freeze crypto assets during investigations. This move signifies the FCA's commitment to keep dirty money out of the UK financial system.

What are your thoughts on this crackdown? Let's discuss below! 👇