PANews reported on April 22 that, according to CoinDesk , the UK Financial Conduct Authority ( FCA ), in conjunction with tax and enforcement agencies, raided eight suspected illegal cryptocurrency peer-to-peer ( P2P ) trading venues in London. Notices to cease operations were issued, and evidence was seized. These leads have been incorporated into multiple criminal investigations. The FCA stated that these venues are suspected of facilitating the buying and selling of cryptocurrencies between individuals without registration or fulfilling anti-money laundering obligations, posing a financial crime risk. Under UK regulations, cryptocurrency exchange services must register with the FCA ; currently, there are no registered P2P cryptocurrency exchanges or platforms in the UK. The FCA advises users to verify the qualifications of trading partners through their online registration information and warns that trading with unregistered P2P platforms will not provide access to financial complaint services and compensation protection, and may involve the risk of embezzled funds.