British law enforcement authorities have arrested and interrogated a woman and a man on suspicion of running an illegal cryptocurrency exchange through which more than $1 billion in digital assets passed through.

According to Sky News, employees of the UK Financial Conduct Authority (FCA) are conducting searches in London offices owned by the suspects. Digital devices were also seized from their apartments. After questioning, police released the 38-year-old woman and 44-year-old man on bail while investigations continue.

“The FCA plays an important role in preventing dirty money from entering the UK financial system. These arrests show that we are doing everything in our power to stop the illegal activities of crypto firms in the country,” said FCA Head of Enforcement and Compliance Therese Chambers.

Let us remind you that cryptocurrency companies in the UK must obtain a license. So far, 45 companies operate legally in the country. However, according to regulators, up to 13,000 crypto firms may be operating illegally in Britain.

Earlier, the head of the National Health Service of the United Kingdom, Amanda Pritchard, warned about the dangerous dependence of young people on cryptocurrency trading.