🚨Crypto Crime Alert!🚨 The FCA and Metropolitan Police have arrested two suspects for allegedly running a $1.3 billion illegal crypto business. The FCA is like the Batman of the financial world, swooping in to stop illegal crypto operations. 💪

The suspects, aged 38 and 44, were interviewed and released on bail. The FCA inspected their offices and the police seized digital devices from two London properties. The investigation continues, and the FCA is keeping mum on further details. 🕵️‍♂️

Since Jan 2021, crypto services must be registered with the FCA under anti-money laundering rules. Only 44 out of 300+ businesses have made it onto the register. The UK is also giving police more power to seize and freeze crypto during investigations. 🚔

The FCA's executive director said, "These arrests show we will do everything in our power to stop crypto firms from operating illegally in the UK." It seems the FCA is flexing its enforcement muscles after being called out for being too slow. 💼

What do you think about this crackdown? Let's chat in the comments! 😄 #CryptoNews #DeFi #Web3