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...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
