FCA cracks down on illegal crypto ATMs

First in the UK

The Financial Conduct Authority has carried out a joint raid on illegally operated crypto ATMs in Leeds with the West Yorkshire Police’s Digital Intelligence and Investigation Unit, entering and inspecting several sights in the city.

This is believed to be the first action of its type in the UK, according to detective sergeant Lindsey Brants of the force cyber team at West Yorkshire Police, who worked with the FCA on the move. In a statement, Mark Steward, the FCA's executive director of enforcement and market oversight, said: "Unregistered crypto ATMs operating in the UK are doing so illegally. "We will continue to identify and disrupt unregistered crypto businesses operating in the UK." Baby steps of crypto regulation not enough to spur asset management interest The crypto ATMs machines allowed customers t...