The UK’s Financial Conduct Authority (FCA) has expanded its enforcement action against crypto ATMs and has targeted a crypto ATM operator in the northern city of Leeds after working with West Yorkshire Police to take action against them. Moved to East London.
The FCA said on March 8 that it was working with the Metropolitan Police to inspect “several locations in east London suspected of hosting illegally operated crypto ATMs”.
All companies offering cryptocurrency services in the UK are required to register with the FCA for anti-money laundering and combating the financing of terrorism. The FCA has previously said that none of its registered cryptocurrency businesses has the authority to offer ATM services. This means that all cryptocurrency ATMs operating in the UK are illegal.
No details were provided on the number or location of illegal ATMs. The FCA did not immediately respond to requests for further comment from CoinDesk.
According to Coin ATM Radar data, there are 18 Bitcoin (BTC) ATMs across the UK.
｜Translation: coindesk JAPAN
｜Editing: Toshihiko Inoue
｜Original: UK Financial Regulator Expands Enforcement Against Crypto ATMs to East London