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FCA warns on illegal crypto ATMs

FCA has warned operators of crypto ATMs that they must shut down their machines. Any firm operating a crypto ATM in the UK must be registered under the MLRs, but no firm that does operate one has yet been approved by FCA. FCA notes the recent Tribunal decision, backing FCA’s requirement that an unapproved operator could not continue trading pending an appeal against FCA’s refusal to register.

FCA will now contact all relevant firms. It has, however, noted that since it published its last list of unregistered crypto firms, 110 such firms are no longer operating.

Emma Radmore