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UK FCA Tightens Control on Unregistered Crypto ATMs

The United Kingdom Financial Conduct Authority(FCA) cracked down on crypto ATMs in the country and moved on to the east London region with the investigation, Reuters reported.

The FCA has been working with the police force from West Yorkshire to deal with the unregistered ATM installations in the city of Leeds. The FCA said it gathered evidence from “a number of sites” in the region for further investigation and might take legal action, according to Reuters.

The financial watchdog is now working with the Metropolitan Police to focus on illegal crypto ATM operations in east London. The operations are conducted under anti-money laundering (AML) regulations, which allow the police to enter premises without a warrant, observe procedures and request information or documents.

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