FCA has announced the inspection of sites across the country “suspected of hosting illegally operated crypto ATMs.”

The United Kingdom’s Financial Conduct Authority said it had coordinated with local authorities in the cities of Exeter, Nottingham and Sheffield to raid facilities suspected of operating unregistered cryptocurrency ATMs.

The UK's financial regulator, the Financial Conduct Authority (FCA), has conducted a raid on a number of locations suspected of operating illegal cryptocurrency ATMs. The operation was part of a broader crackdown on illegal financial activities and fraud in the digital asset industry.

The United States White House has released a national standards strategy for key and emerging technologies, which includes distributed ledger technology (DLT) and digital identity infrastructure.

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.

Cryptocurrency users will benefit greatly from the widespread availability of these machines in the long run, but it’s crucial to acquire all the information prior to actually activating a Bitcoin ATM in your area.

The U.S. Department of Justice (DOJ) announced on Thursday that Charles Riley Constant, aka Chuck Constant, has been arrested “for charges in connection with a scheme to steal and launder over $1 million in fraudulently obtained loans from the Small Business Administration (SBA), including the use of fraud proceeds to purchase cryptocurrency ATMs.”

Silvergate Capital, which provided lending services to scores of businesses in the cryptocurrency industry, said Wednesday it will cease operations and liquidate its bank unit.

Britain’s top financial regulator, the Financial Conduct Authority (FCA), has widened its crackdown on unauthorized cryptocurrency ATMs. “There are currently no crypto ATM operators registered with the FCA, which they must be to operate legally,” the regulator noted. (Bitcoin.com)

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.