It is a known fact that cryptocurrencies have started to spread rapidly in recent years. In fact, this situation went so far that El Salvador, located in Central America, decided to declare the leading cryptocurrency Bitcoin (BTC) its official currency. Of course, as the popularity of these digital currencies increased so much, Bitcoin ATMs started to open all over the world.
In many countries around the world, including our country, there are thousands of ATMs that allow anyone to buy crypto money using their bank cards and transfer it to digital wallets. However, that doesn’t change the fact that some of their machines are operating illegally. Now, the news has shown that there is a move from the United Kingdom in this regard.
All ATMs operating illegally in the country will be closed
According to the statements, the Financial Conduct Authority (FCA), the financial regulator of the United Kingdom, announced that illegal activity in the country It has decided to close all ATMs that display cryptocurrencies and enable the purchase of cryptocurrencies such as Bitcoin. Saying that no company providing crypto money services in the country has a license to operate a Bitcoin ATM, FCA said that they decided to close the ATMs for this reason; He noted that otherwise they would take action for these companies.
These statements showed that all of the 81 crypto money ATMs currently operating in the country, mostly in supermarkets, are illegal. In addition, the authorities stated in written statements that these ATMs must be registered with the FCA and comply with the UK Money Laundering Regulations, adding: “We constantly warn consumers that cryptocurrencies are high risk. This means that if anything goes wrong, people are less likely to have protection, they could lose all their money.”
FCA stated in its previous statements that checks at these ATMs were low; therefore, he warned people that crimes such as money laundering could occur. In addition, the institution previously provided crypto money services; however, it had published a list of companies that did not comply with the necessary regulations on money laundering. Since the sharing of this list, it has been stated that 110 crypto money companies in the country have stopped their trade.
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