FCA and Buying crypto off from people with a fee

[winning77]

Uk based. Open to offshore.

I’m wondering if anyone has ever dealt with this or can put me in the right direction.

Buying people’s crypto (AKA, Sending a bank transfer for peoples crypto) on a regular basis, using a automated system to do so, plus charging a fee (in fiat, subtracted from the paid amount).

This is to be done either via P2P trading sites or through a website you own.

Potential FCA restrictions (if UK based):
- Dealing in Investments as Principal
- CDD requirements


Does anyone know a legal expert on this who can call and consult with me?

 

[wellington]

In the US you have to have a license or go to prison, UK most likely the same, approach the FCA via a legal representative.