The UK Financial Conduct Authority (FCA), in conjunction with HM Revenue & Customs and the South West Regional Organised Crime Unit, recently conducted raids on eight locations in the UK suspected of engaging in illegal peer-to-peer (P2P) cryptocurrency trading. Officials issued injunctions on-site, ordering operators to immediately cease operations and collect relevant evidence. The FCA stated that no P2P cryptocurrency traders or platforms are currently registered with the regulator in the UK. Furthermore, in the recent Operation Atlantic operation, law enforcement agencies from multiple countries froze $12 million in assets related to cryptocurrency scams and traced over $45 million in stolen cryptocurrency. The FCA is currently consulting on guidelines for a cryptocurrency regulatory framework slated to take effect in 2027.