Crypto ATMs seized in the UK amid growing scrutiny of kiosk-based exchanges
Crypto ATM arrests in London come as US states like Wisconsin move to limit daily transactions and mandate fraud warnings.
Seven crypto ATMs were seized and two people were arrested in southwest London on Thursday on suspicion of money laundering and operating an illegal cryptocurrency exchange.
The operation was led by the UK Financial Conduct Authority (FCA) and the Metropolitan Police, according to a statement by the financial watchdog.
Since January 2021, any crypto business operating in the UK must be registered with the FCA and follow anti-money laundering regulations. Currently, no legal crypto ATMs are operating in the UK, and using or running one without FCA registration is a criminal offense.
