The UK’s financial regulator has ordered the closure of all cryptocurrency ATMS in the UK.
In Brief:
The Financial Conduct Authority says all cryptocurrency ATMs are operating illegally.
Crypto ATMs enable people to purchase cryptocurrencies with a credit or debit card.
The FCA says that crypto ATMs must be registered and comply with money laundering regulations.
What does this mean?
There are currently fewer than 100 such machines across the UK, and the FCA says none of these are actually registered and are therefore operating illegally.
