The Financial Conduct Authority warns that all crypto-ATMs in the UK are operating illegally.
All UK crypto-currency cash machines are operating illegally and must be shut down, the Financial Conduct Authority has announced.
Crypto-ATMs look like regular cash machines and let people buy crypto-currency, such as Bitcoin, using their bank cards.The FCA said all such machines must be shut down or it will take action.The FCA said: "We regularly warn consumers that crypto-assets are unregulated and high-risk which means people are very unlikely to have any protection if things go wrong.but have not registered their business with the regulator for anti-money-laundering checks.
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