![\"UK](\"https:\/\/www.cryptocabaret.com\/wp-content\/uploads\/2023\/02\/fca-police-raid-atm-sties-768x432.jpg\")
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Police in the U.K., in collaboration with the Financial Conduct Authority (FCA), have raided several sites allegedly hosting cryptocurrency ATMs. \u201cNo crypto ATM operators currently have FCA registration,\u201d the British financial regulator stressed, adding that it is \u201cworking with multiple law enforcement partners, including local police forces, to disrupt and disable illegal crypto ATMs.\u201d<\/strong><\/p>\n Authorities in the U.K. have raided several sites around the city of Leeds in a cryptocurrency ATM crackdown. The raids followed a joint investigation between the country\u2019s top financial regulator, the Financial Conduct Authority (FCA), and West Yorkshire Police\u2019s Digital Intelligence and Investigation Unit.<\/p>\n The FCA announced Tuesday that it \u201chas used its powers to enter and inspect several sites around Leeds suspected of hosting illegally operated crypto ATMs.\u201d<\/p>\n Emphasizing that \u201cCrypto exchange providers, which includes crypto ATM operators, in the U.K. must be registered with the FCA and comply with the U.K. money laundering regulations,\u201d the FCA stressed:<\/p>\n No crypto ATM operators currently have FCA registration.<\/p>\n<\/blockquote>\n The British financial regulator noted that it is \u201cworking with multiple law enforcement partners, including local police forces, to disrupt and disable illegal crypto ATMs.\u201d The FCA stated that it will review evidence gathered during the raids and \u201cconsider further potential enforcement action.\u201d<\/p>\n In March last year, the U.K. financial watchdog published a warning<\/a> on illegal crypto ATMs operating in the country. \u201cNone of the cryptoasset firms registered with us have been approved to offer crypto ATM services, meaning that any of them operating in the U.K. are doing so illegally and consumers should not be using them,\u201d the regulator cautioned<\/a>.<\/p>\n Mark Steward, executive director of Enforcement and Market Oversight at the FCA, said: \u201cWe will continue to identify and disrupt unregistered crypto businesses operating in the U.K.\u201d While noting that \u201cCrypto businesses operating in the U.K. need to be registered with the FCA for anti-money laundering purposes,\u201d he warned:<\/p>\n However, crypto products themselves are currently unregulated and high-risk, and you should be prepared to lose all your money if you invest in them.<\/p>\n<\/blockquote>\n Detective sergeant Lindsey Brants of the Force Cyber team at West Yorkshire Police explained that the team gathered evidence across West Yorkshire and \u201cestablished the locations of several live crypto ATMs.\u201d Brants said that before sharing their findings with the FCA: \u201cWarning letters were issued requesting the operators cease and desist using the machines and that any breach of regulations would result in an investigation under money-laundering regulations.\u201d<\/p>\nUK Regulator Cracks Down on Unregistered Crypto ATMs<\/h2>\n
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