The financial watchdog in the U.K. has declared that all non-registered ATMs must be immediately closed down or be subject to undisclosed additional action.
Financial Conduct Authority (FCA), United Kingdom’s central financial regulator, has issued a damning verdict on the presence of Bitcoin (BTC) ATMs within the island country.In what has come as a surprise to many within the industry, the U.K. authority has issued a stern “shut down or face further action“ order to operators of Bitcoin ATMs, outlining their intentions to contact these companies to affirm the notice.The watchdog cited a lack of regulatory structure, the high-risk potential of fluctuating assets and the importance of upholding the principles established within the Money Laundering Regulations (MLR) as the primary reasons for the enforcement.“We are concerned about crypto ATM machines operating in the UK and will therefore be contacting the operator
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