Crypto ATMs may be booming elsewhere — but in the UK, they’re strictly off-limits without registration.

👮‍♂️ This week, U.K. authorities raided four locations across southwest London, arrested two individuals, and seized 7 illegal crypto ATMs in a coordinated sting led by the Financial Conduct Authority (FCA) and Metropolitan Police.

👉 The crime? Running an unregistered crypto exchange suspected of financial misconduct.

🔍 The suspects were interviewed and released as investigations continue — but the message is loud and clear:

Operating crypto ATMs without FCA approval is illegal. Period.

📢 FCA’s Therese Chambers didn’t mince words:

> “There are no legal crypto ATMs in the UK — and unregistered ones only fuel crime. Expect serious consequences.”

🧨 A Growing Crackdown

This isn’t the first strike — earlier this year, Olumide Osunkoya was jailed for 4 years after running a £2.5M crypto ATM empire without FCA registration. His machines charged up to 60% markup, used fake IDs, and bypassed financial safeguards.

🔐 Since January 2021, all crypto businesses in the UK must be registered with the FCA to operate legally. The agency continues to warn against unregulated ATMs — citing serious money laundering and fraud risks.

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🌍 Meanwhile Around the World...

🇺🇸 Over 29,000 crypto ATMs operate in the US — but states like Nebraska and Washington are tightening the screws.

🇳🇿 New Zealand has banned them entirely.

🇦🇺 Australia just imposed strict new rules after frauds targeting older victims.

🛑 Bottom line:

If you’re thinking of plugging in a crypto ATM in the UK…

Think again.

1. #CryptoNews #FCA #CryptoATM #UKCrackdown #BinanceSquare

   

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