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UK Regulator Shuts Down 26 Unauthorised Crypto ATMs in 2023 Crackdown

The UK's Financial Conduct Authority (FCA) has announced that it has shut down 26 unauthorised cryptocurrency automated teller machines (ATMs) since the start of the year.

The FCA has inspected 34 locations in the UK in 2023, with 18 sites suspected of operating crypto ATMs inspected between May and June by the FCA, South West Regional Organised Crime Unit, Bedfordshire Police, Hertfordshire Police, and the Metropolitan Police.

The FCA warned that using unregistered crypto ATMs could result in users losing all of their money, and that there were often no effective channels of communication to contact the machine's operator. The regulator said it would continue to take appropriate enforcement action against unregistered crypto ATM operators.

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