The United Kingdom’s financial regulator, Financial Conduct Authority , is coming for unregistered cryptocurrency automated teller machines .
THe FCA and the cyber team at West Yorkshire Police have taken action against several sites in and around Leeds city suspected of hosting illegally operated crypto ATMs.that no crypto ATM operators in the United Kingdom currency have FCA registration. The authority stated that all crypto exchange providers — including crypto ATM operators — must be registered with the FCA and comply with the U.K. money laundering regulations.
“Unregistered crypto ATMs operating in the U.K. are doing so illegally,” FCA’s executive director of enforcement Mark Steward said, adding that the regulator will continue to disrupt unregistered crypto businesses in the country. The exec also noted that crypto products are “currently unregulated and high-risk,” warning investors to be prepared to lose all their money with crypto.
According to police detective sergeant Lindsey Brants, local enforcement officers have issued several warning letters to crypto ATM operators, requesting cease and desist using the machines. “Any breach of regulations would result in an investigation under money-laundering regulations,” he added.
I'm sure this situation will change soon
Sunak sposed to be pro crypto, just like Gensler.. Anyway ATMs pose serious threat to national security while heating under 16 degrees in homes is fine. Everyone keep sleeping it's all under control!
“Unregistered crypto ATMs operating in the U.K. are doing so illegally,” FCA’s executive director of enforcement Mark Steward said, adding that the regulator will continue to disrupt unregistered crypto businesses in the country. crypto bitcoin ethereum
Ridiculous technology hating country
Why you guys don’t do an article about the stock bitnile one of the 1st public company to make a crypto metaverse Take a look on No soliciting to buy stock or securities
Crypto ATM's are something that I've not really seen the use case for Add in the reporting requirements every time an asset is converted to another this just doesn't appeal