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Stablecoin News

FCA Raids Illegal P2P Crypto Sites in London

FCA Raids Illegal P2P Crypto Sites in London

Working with HMRC and the Metropolitan Police, the FCA took action against three P2P locations in London. The move fits into the lead-up to the UK’s new crypto regime, with extra focus on stablecoins, exchanges, and anti-money laundering rules.

Stablecoins are cryptocurrencies designed to maintain a stable value.

Stablecoins are usually pegged to a fiat currency such as the U.S. dollar or the euro. They are often used to move value quickly, trade, or temporarily step out of volatility.