According to Bloomberg, Therese Chambers, executive director of the Financial Conduct Authority (FCA), said that the FCA plays an important role in preventing "dirty money" from entering the UK financial system. The FCA said that the suspect's office had been searched and the police seized equipment when searching two London properties. The investigation is still ongoing and no further information was given. Under UK financial rules, cryptocurrency businesses need to register with the FCA under the rules to prevent money laundering. The FCA has been cracking down on unregulated cryptocurrency companies and their marketing to consumers.