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 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.

FCA Executive Director Sarah Pritchard spoke at London’s City Week conference highlighting the need for cooperation on crypto regulations.

Crypto companies in the UK are facing difficulty accessing banking services as banks request more documentation and information about monitoring client transactions. This is going against Prime Minister Rishi Sunak's plans to make the UK a global crypto hub. Venture capital investment in digital asset companies reportedly dropped 94% to $55 million in the UK so far in 2023, with crypto companies turning to payment service providers to maintain business operations.

HSBC and Nationwide have imposed new restrictions on cryptocurrency purchases in the U.K. The two financial institutions cited a warning from the Financial Conduct Authority (FCA), the British regulator overseeing the financial services industry, regarding the risks involved in purchasing cryptocurrencies. According to the email shared by several people on Twitter, Nationwide wrote, “We will be introducing restrictions on purchasing crypto currency from 28 February,” (Bitcoin.com)

Police in the U.K., in collaboration with the Financial Conduct Authority (FCA), have raided several sites allegedly hosting cryptocurrency ATMs. “No crypto ATM operators currently have FCA registration,” the British financial regulator stressed, adding that it is “working with multiple law enforcement partners, including local police forces, to disrupt and disable illegal crypto ATMs.”(Bitcoin.com)

UK FCA is coming for unregistered cryptocurrency automated teller machines (ATMs). Magic Eden is undergoing restructuring process, lays off 22 employees.

The United Kingdom’s financial regulator, Financial Conduct Authority (FCA), is coming for unregistered cryptocurrency automated teller machines (ATMs).