In London, officials from the UK Financial Conduct Authority (FCA) and the police arrested seven illegal bitcoin ATMs and detained two suspects on charges of money laundering and illegal cryptocurrency exchange.
In the UK, since January 2021, all cryptocurrency businesses are required to register with the FCA and comply with anti-money laundering regulations. Therefore, using ATMs without registration is considered a criminal offense.
While a large-scale operation is underway in London, authorities at the state level in the US are also tightening control over exchange points. In Wisconsin, a law has been proposed that limits the amounts of daily transactions, requires risk warnings, and protects victims of fraud with the right to a full refund.
