• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: US Lawmakers Urge SEC To Allow Crypto Investments In 401(k) Plans
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: US Lawmakers Urge SEC To Allow Crypto Investments In 401(k) Plans
UK Authorities Nab Suspects in £1 Billion Crypto Scandal

Sweeping Raid: UK Authorities Nab Suspects In £1 Billion Crypto Scandal

Samuel Edyme
by Samuel Edyme
1 year ago
·
Posted in Crypto News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

In a significant development within the UK’s cryptocurrency landscape, authorities have recently apprehended two individuals linked to an alleged illicit digital currency exchange operation, reportedly involving over £1 billion.

This move underscores an ongoing effort by regulatory bodies to clamp down on unregulated financial activities within the crypto sector.

Related Reading: UK Crypto Advice Firm Shut Down After £5M Losses In Investors’ Money

Arrests Made In Billion-Pound Crypto Laundering Bust

The arrests, carried out by the Financial Conduct Authority (FCA) in collaboration with the London police, targeted a 38-year-old and a 44-year-old, who have since been released on bail pending further investigations.

The crackdown occurred amidst increasing vigilance against money laundering activities through digital currencies. The FCA’s Executive Director of Enforcement and Market Oversight, Therese Chambers, emphasized the agency’s commitment to expunging “dirty money” from the UK’s financial ecosystem.

During the operation, authorities raided two London properties, seizing several devices as part of the evidence collection process.

As reported by Bloomberg, Under UK financial legislation, all crypto-related businesses must register with the FCA and adhere to strict anti-money laundering (AML) regulations.

Furthermore, the recent actions reflect a broader initiative to tighten oversight on cryptocurrency exchanges and related services, which have been under increased scrutiny due to their potential misuse for financial crimes.

The global crypto market on TradingView
The global digital currency market cap value on the 1-day chart. Source: Crypto TOTAL Market Cap on TradingView.com

UK Regulatory Pressure Mounts Amid Tightening Crypto Oversight

Speaking of the UK regulator’s crackdown, Binance, the world’s largest digital currency exchange, is still dealing with its legal saga with these regulators.

Just recently, the crypto exchange revealed it is attempting to dismiss much of a £10 billion lawsuit in London, where it is accused alongside other platforms of removing Bitcoin Satoshi Vision (BSV) from their listings.

The case, representing over 200,000 BSV owners, claims the exchanges participated in anti-competitive actions that significantly devalued the digital currency, potentially costing up to £9 billion in losses.

Binance has contested specific aspects of the lawsuit but not its overall admittance under the UK’s collective action framework.

Meanwhile, UK regulatory bodies are advancing their control over digital asset operations. The government recently intends to enact new digital currency regulations within six months, covering various activities from exchange operations to custodial services.

The Economic Secretary highlighted that this new framework would bring numerous crypto asset activities under regulatory oversight for the first time.

Related Reading: Going Crypto: Major UK Banking Firms Test Tokenized Deposits

Additionally, the UK’s Financial Conduct Authority (FCA) is preparing to introduce a consultation for a licensing regime for digital asset firms and is considering equivalence measures for international companies.

This regulatory momentum is underscored by the FCA’s recent approval of the first set of crypto exchange-traded products (ETPs), a significant step in integrating digital assets into the UK’s financial infrastructure.

Featured image created with DALL-E, Chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Samuel Edyme

Samuel Edyme

Follow

Edyme is a writer, a content writer that specialises in writing about the crypto realm. Asides Bitcoinist and NewsBTC, Edyme's writing has been featured in top sites such as Blockchain.News, CoinMonk, Blockchain Reporter, Bitcoin Insider among others.

Full Profile

Related Posts

Best Crypto to Buy as US-UK Crypto Alliance Could Redefine the Sector

US and UK Explore Crypto Regulatory Collaboration – Which Are the Best Cryptos to Buy Now?

1 hour ago
Why Bitcoin Hyper's Layer-2 Could Make Bitcoin Relevant for Developers & Modern Demands

Why Bitcoin Hyper’s Layer-2 Could Make Bitcoin Relevant for Developers & Modern Demands

56 minutes ago
Crypto

United On Crypto: UK And US Announce Joint Regulatory Effort

2 hours ago
Next Crypto to Explode Live News Today: Timely Insights for Chart Sniffers (September 23)

Next Crypto to Explode Live News Today: Timely Insights for Chart Sniffers (September 23)

37 minutes ago
Bitcoin Hyper ($HYPER) Live News Today: Latest Insights for Bitcoin Maxis (September 23)

Bitcoin Hyper ($HYPER) Live News Today: Latest Insights for Bitcoin Maxis (September 23)

37 minutes ago
Market Crash or Market Chance? The Best Crypto to Diversify Amid Turbulence

Market Crash or Market Chance? The Best Crypto to Diversify Amid Turbulence

4 hours ago

Premium Sponsors

Press Releases

  • Bitcoin Hyper

    ChatGPT предсказва следващата 1000x...

    4 hours ago
  • Snorter надхвърли $4 милиона след...

    1 day ago
  • ตัวละครสัตว์ Snorter หน้าตลกโผล่พ้นกำแพงอิฐ

    นักลงทุนแห่เข้าซื้อ...

    4 days ago
  • Little Pepe ($LILPEPE) presale crosses $25 million milestone as investors eye exchange listings and meme coin Layer-2 blockchain growth.

    Little Pepe Presale Surges Past $25M as Stage 12 Sells Out...

    5 days ago
  • As Demand Grows for Ease, MEXC Adds Apple Pay and Google Pay for Instant Crypto Purchases

    As Demand Grows for Ease, MEXC Adds Apple Pay and Google...

    5 days ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.