FCA Charges Man Over Illegal Crypto ATMs
CryptoNewsTerminal Staff10 Sep, 2024
FCA Charges Man Over Illegal Crypto ATMs
The UK’s Financial Conduct Authority (FCA) has criminally charged a man for illegally operating cryptocurrency ATMs, the Financial Times (FT) reported. The ATMs allegedly processed £2.6 million in transactions between December 2021 and September 2023. The FCA issued a warning, stating that using crypto ATMs is tantamount to handing over cash to criminals and emphasizing the absence of legitimate crypto ATM operators in the UK. This action serves as a reminder of the importance of exercising caution when dealing with cryptocurrency ATMs and highlights the FCA's commitment to safeguarding consumers in the rapidly evolving digital asset landscape.
