The UK's Financial Conduct Authority (FCA) has inspected crypto ATM sites in Exeter, Nottingham, and Sheffield alongside regional police, as part of its crackdown on unlawful crypto ATMs. The FCA regards these devices as a money laundering threat, and none are logged with the FCA as required by law. The regulator said that crypto ATMs operating without FCA registration are illegal. The FCA is reviewing the evidence gained from its inspection, but did not specify what further action, if any, might be taken. The raids follow enforcement action in Leeds and East London that were announced in March. According to CoinATMRadar, there are 17 crypto ATMs in the UK, but the FCA says that none of the 40 or so registered crypto companies are permitted to offer that service.

(By Jack Schickler)