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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. FCA Cracks Down on Illegal Crypto ATMs Britain’s top financial regulator, the Financial Conduct
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The FCA began enforcing its proclamation that crypto ATMs are illegal last month, inspecting sites in the northern city of Leeds. Source
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Crypto ATM installations have seen a steady decline across the world over the past several months. While some ATMs have been taken out of operation due to geopolitical tensions and revenue decline, some providers like Bitcoin Depot have started converting their physical Bitcoin (BTC) ATMs to software. Bitcoin Depot recently converted
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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
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The United Kingdom’s financial regulator, Financial Conduct Authority (FCA), is coming for unregistered cryptocurrency automated teller machines (ATMs).THe FCA and the cyber team at West Yorkshire Police have taken action against several sites in and around Leeds city suspected of hosting illegally operated crypto ATMs.Announcing the news on Feb. 14,
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A partnership between Poundtoken and BitcoinPoint will make the country's first 100% backed GBP stablecoin ($GBPT) accessible to retail consumers via a network of 18,000 ATMs across the United Kingdom. The move marks another step towards the U.K. becoming a "crypto hub" and is in line with the government's push
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While Bitcoin (BTC) ATMs were an afterthought to Satoshi Nakamoto’s vision of sound money, they are now considered one of the main pillars of Bitcoin’s mainstream adoption. However, the global Bitcoin ATM network, which used to add thousands of machines each month in 2021, recorded a net addition of just
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The Lightning Bitcoin ATMs help to process transactions faster and solve the problem of batching funds for multiple transactions.In a recent development, the Australian city of Coolangatta announced the launch of its first Bitcoin ATM integrated with Lightning Network capabilities. Lightning Network is a Layer-2 scalability solution for Bitcoin and
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In a new directive to financial institutions, the Central Bank of Nigeria (CBN) said individuals can now only withdraw an equivalent of just under $222 per week while corporates can only withdraw cash not exceeding $1,111 during the same period. The new limits, which are in line with the CBN’s
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The number of bitcoin ATMs has been on the rise in Russia’s capital and the rest of the country, a press report revealed this week. There is demand for the service as it offers easy access to cryptocurrencies, although not at the best exchange rates and still amid regulatory uncertainty.
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