Today bitcoin one of the easiest ways to buy Bitcoin ATM can be use; All you have to do is deposit cash and send Bitcoin to your digital wallet. However, the UK Financial Conduct Authority (FCA) in its latest announcement, all Bitcoin ATMs, including cryptocurrency He said the machines will be shut down.
Crypto ATMs are expected to be registered with the FCA to operate in the UK and comply with the UK Money Laundering Regulations (MLR). According to the FCA, none of the registered crypto-asset companies Opening an ATM permission deniedTherefore, those who operate are doing illegal transactions.
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UK moves to shut down Bitcoin ATMs
The latest statement from FCA, UK Money Laundering Regulations It deals with all Bitcoin and other cryptocurrency ATMs in the UK as they have been declared illegal under (MLR) and not approved by the FCA.
Britain’s financial watchdog posted the announcement on its website, saying:
“Crypto ATMs offering crypto asset exchange services in the UK must be registered and comply with the UK Money Laundering Regulations (MLR). None of the crypto-asset companies registered with us have been approved to offer crypto ATM services, which means that anyone operating in the UK is operating an ATM illegally and consumers should not use it.”
Also, according to the announcement, the UK Supreme Court recently crypto ATM operator Gidiplus decided to reject the appeal filed by the company to continue trading. The court cited the lack of evidence on how Gidiplus would control the crypto.
There are a total of 81 cryptocurrency ATMs in the UK, mostly in supermarkets. “We are concerned about crypto ATM machines operating in the UK and will therefore be contacting operators who have instructed the machines to be shut down or further action taken,” the FCA said.
of the United Kingdom does not prohibit buying crypto should also be noted. Investors looking to buy cryptocurrencies are still free to use online exchanges. However, UK investors money laundering Have KYC (authentication) requirement to not be a victim.
Crypto ATMsallows users to deposit cash in exchange for the required cryptocurrency, which can then be transferred to other online crypto wallets. But the FCA has warned consumers that if “things go wrong” there will be a lack of legal and financial protection. to high-risk digital assets warns against.
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