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The FCA's actions followed akin operations successful East London and Leeds, wherever the regulator said it had issued warnings oregon cease-and-desist requests to suspected ATM operators.
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The United Kingdom’s Financial Conduct Authority, oregon FCA, has announced the inspection of sites crossed the state “suspected of hosting illegally operated crypto ATMs.”
In a May 5 announcement, the FCA said it had coordinated with section authorities successful the cities of Exeter, Nottingham and Sheffield to raid facilities suspected of operating unregistered cryptocurrency ATMs. The enforcement enactment followed akin operations from March successful East London and February astir the metropolis of Leeds, wherever the FCA said it had issued warnings oregon cease-and-desist requests to suspected crypto ATM operators.
“The enactment we’ve taken implicit the past fewer months and wider enactment shows that we volition enactment to halt amerciable activity,” said Therese Chambers, FCA Executive Director of Enforcement and Market Oversight. “Besides disrupting unregistered crypto businesses, the associated efforts person helped rise consciousness of illegally operated crypto ATMs successful the UK among the public.”
#Crypto ATMs operating without FCA registration are illegal. The enactment we’ve taken implicit the past fewer months and wider enactment shows that we volition enactment to halt amerciable activity. #cryptocurrency https://t.co/KnMhiKAt21
— Financial Conduct Authority (@TheFCA) May 5, 2023Related: FCA officials archer UK parliamentary committee crypto regularisation is unavoidable
FCA authorities cited its powers nether the U.K.’s Money Laundering Regulations from 2017 successful conducting the inspections. According to the fiscal watchdog, it planned to reappraisal grounds gathered and “consider taking further enactment wherever necessary”.
According to information from CoinATMRadar, determination were much than 15 crypto ATMS successful the U.K. astatine the clip of work by operators including Big Sea Coins, BD ATMs, Cryptobitecoin, and Computer House. It’s unclear whether immoderate were registered nether the FCA.
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