U.K.’s FCA Probes Illegal Crypto ATMs Operating in the Country

U.K.’s FCA Probes Illegal Crypto ATMs Operating in the Country

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The United Kingdom’s FCA is investigating Cryptocurrency ATMs in the country.
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FCA argues that no operating crypto ATM is registered.
The United Kingdom’s Financial Conduct Authority (FCA) is taking a jab against the illegal crypto ATMs in the country. On May 5, 2023, the FCA announced coordinating with the local authorities to inspect sites “suspected of hosting illegally operated crypto ATMs.” 
Actions Against Crypto ATMs in the U.K. 
Crypto ATM facilities in Exeter, Nottingham, and Sheffield were probed concerning operating unregistered cryptocurrency ATMs. The inspection is believed to be a joint operation between the FCA, the South West Regional Organised Crime Unit, Yorkshire, Humber Regional Organized Crime Unit, and the Nottinghamshire Police Force. 
Authorities performed similar actions in March 2023 in East London and Leeds in February 2023. During this, the FCA issued warnings or cease-and-desist requests to suspected crypto oper

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