The UK Financial Conduct Authority (FCA) has taken action for Bitcoin (BTC) and cryptocurrency ATMs operating in the country.
The FCA acted in line with its earlier statement that all Bitcoin and crypto ATMs operating in the country are doing this illegally. That all crypto ATMs in the country are illegal Basing its reasoning on the fact that none of them are registered with the regulatory authorities, FCA took its first step in the north of England. Leeds city threw for
FCA and West Yorkshire Police It is not specified how many or where they are located within the scope of the operations carried out under the leadership of “several crypto ATMs” given a written warning. Detective Sergeant of West Yorkshire Police Lindsey Brantsunless operators stop crypto ATM services, that they will be investigated within the scope of money laundering and the fight against terrorism. stated.
FCA’s executive director Mark Steward warned investors and ATM operators with the following statements:
Unregistered crypto ATMs operating in the UK do this illegally. Accordingly, regulatory bodies will continue to “disrupt” all these illegal activities. Investors need to be cautious in this unregulated and high-risk market and be prepared to risk losing all their money.
According to the data of Coin ATM Radar, it is active in the whole of England. 27 Bitcoin ATMs exists.