🚨🚨Big news, BTC enthusiasts! The UK Metropolitan Police and the Financial Conduct Authority (FCA) have detained two individuals suspected of running an illegal cryptocurrency operation worth over 1 billion British pounds ($1.2 billion)! 😱💰

The FCA has been on the ball, emphasizing the importance of registration for crypto businesses and issuing warnings to consumers. The suspects, aged 38 and 44, were questioned and later released on bail. The authorities seized numerous digital devices linked to the business during their investigation. 🕵️‍♂️🔍

Therese Chambers, the Executive Director of Enforcement and Market Oversight at the FCA, affirmed the agency's commitment to preventing illegal crypto activities. She stated, “The FCA has an important role to play in keeping dirty money out of the UK financial system. These arrests show we will do everything in our power to stop crypto firms from operating illegally in the UK.” 🚫💼

Since January 2021, the FCA has required all crypto-related businesses to register, ensuring compliance with UK money laundering regulations. Over 300 businesses have applied for registration, but only around 44 have been successful. 📝👏

The FCA has the power to issue directives and impose restrictions on crypto businesses. They regularly alert UK citizens about the risks associated with crypto assets and maintain a list of suspected unregistered businesses. 🚦📋

Stay tuned for more updates on this case! 📰👀