UK Police Charge Resident for Operating Illegal Crypto ATM and Money Laundering

According to Odaily, UK police have charged a resident with operating an illegal cryptocurrency ATM and laundering £300,000 ($395,000). This marks the country's first prosecution related to a cryptocurrency ATM. The Financial Conduct Authority (FCA) issued a ban on cryptocurrency ATMs in 2022, mandating that machine operators must register with the FCA. Following this, the regulatory body initiated a crackdown on unregistered cryptocurrency ATMs. The FCA emphasized in the indictment, 'Currently, there are no cryptocurrency ATMs registered with the FCA, so if you use one of these machines, you may be handing your money to criminals.'