UK Arrests Pair in Alleged £1 Billion Illegal Crypto Firm (1)

The UK’s financial watchdog and London police arrested two people in connection with an alleged illegal cryptocurrency exchange worth more than £1 billion ($1.3 billion).

The Financial Conduct Authority said Thursday the pair, 38 and 44-years old, were released on bail and the investigation is ongoing.

“The FCA has an important role to play in keeping dirty money out of the UK financial system,” Therese Chambers, Executive Director of Enforcement and Market Oversight at the FCA said in a statement.

The suspects’ offices were raided and police seized devices in searches of two London properties, the FCA said. No ...