Security
London police raid unregistered crypto ATMs
March 8, 2023
London police and the Financial Conduct Authority recently conducted multiple raids in east London against unregistered cryptocurrency ATMs.
The FCA recently announced a major crackdown on the ATMs as none are registered with the FCA, according to a report by The Guardian.
The FCA requires all cryptocurrency firms prove they have both anti-money laundering and terrorist financing controls in place to operate. Mark Steward, the enforcement director and market oversight at the London city regulator, said the raids were meant to send "a clear message."
"Crypto ATMs operating without FCA registration are illegal and, as today shows, we will take action to stop this," Steward told the news outlet.
The FCA is also working with the National Economic Crime Centre to discover and shut down all unregistered cryptocurrency ATMs.
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SecurityPresented ByDiebold Nixdorf
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