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British police arrest two Londoners suspected of running $1.2b crypto exchange.
The Financial Conduct Authority (FCA), in collaboration with the Metropolitan Police Service, has arrested two residents of London suspected of operating an illegal crypto exchange.
In a Thursday press release, the FCA said authorities believe that over £1 billion ($1.2 billion) worth of unregistered crypto have been traded through the business. The document doesn’t disclose the names of the arrested nor the name of the exchange they were running.
The press release notes the FCA conducted inspections at the suspects’ associated offices, while the police “seized several digital devices during searches of 2 residential London properties.”
“Both suspects were interviewed under caution by the FCA and released on bail. The FCA’s investigation into the case is ongoing,” The Financial Conduct Authority stated.
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