March 21, 2023

The United Kingdom Financial Conduct Authority (FCA) has intensified its crackdown on illegal Bitcoin automated teller machines (ATMs) by inspecting several sites in East London suspected of hosting unregistered machines. The FCA, in collaboration with the Metropolitan Police, has been investigating unregistered crypto ATM businesses in the UK and will continue to “identify and disrupt” them.

This move comes after the FCA conducted similar raids in Leeds earlier this year, in partnership with the West Yorkshire Police’s Digital Intelligence and Investigation Unit. The FCA’s ongoing battle against illegal ATM operators has been gaining momentum, and the regulator is determined to stamp out any unregistered crypto ATM businesses in the UK.

Decrypt attempted to contact the operators and manufacturers of Bitcoin ATMs operating in the UK, but no reply was received from General Bytes, one of the main manufacturers of Bitcoin ATMs. The FCA’s crackdown on illegal crypto ATM businesses is a clear indication that the regulator is taking a tough stance on unregistered operators and is committed to ensuring that the UK’s financial system remains safe and secure.

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