According to Odaily Planet Daily, British police issued the country’s first cryptocurrency ATM indictment after accusing a resident of operating an illegal cryptocurrency ATM and laundering 300,000 pounds ($395,000).
The UK Financial Conduct Authority (FCA) issued a ban on cryptocurrency ATMs in 2022, warning machine holders that they must register with the FCA. Subsequently, the regulator launched a crackdown on unregistered cryptocurrency ATMs.
“There are currently no FCA-registered cryptocurrency ATMs, so if you use one of these machines you could be handing over your funds to criminals,” the FCA stressed in its complaint.
