.TheFCA has warned that any crypto ATMs operating in the UK are illegal and must be shut down. By JamieCrawleyCD
The U.K.'s Financial Conduct Authority has warned that any crypto ATMs operating in the country are illegal and must be shut down.
Operators must be registered with the FCA to offer ATM services and comply with money laundering regulations,As none of the 27 fully registered crypto firms have been approved to offer ATM services, any crypto ATMs in the U.K. are operating illegally. According toThe FCA made reference to Gidiplus, a firm providing crypto ATM services, which had its registration application rejected by the financial watchdog.in order to continue its services pending its appeal.
As of March 7, 106 firms have applied for registration with the FCA to offer crypto services. Of those, 27 are now fully registered with 56 refused or having withdrawn their application. The remaining 23 form the FCA's Temporary Registration Regime , which allows them to continue to operate while their applications remain under assessment. The deadline for their application approval is March 31.
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