Bitcoin ATMs In the UK Operate Illegally – FCA

The UK Financial Conduct Authority (FCA) said that cryptocurrency ATM (ATM) operators did not obtain the necessary licences to provide digital asset exchange services, and therefore operate illegally in the country.

The FCA said it will contact ATM operators soon to instruct them to turn off the devices or take action against them.

One such company operating bitcoin-ATM in the country is Gidiplus. The firm went to court to continue providing services pending an appeal of the registration denial. But the judge ruled against her. The judge noted that there is no evidence of how exactly Gidiplus will conduct business in accordance with regulatory requirements.

According to Coin ATM Radar, there are 43 crypto ATMs operating in the country at the time of writing, although there were twice as many as of March 11.

Earlier, PayPal announced the launch of the possibility to buy, store and sell crypto for UK customers with verified names. 

The BTC-Alpha team together with trusted volunteer communities created a charity fund ‘Alpha for Ukraine’. You can make a donation to help everyone in Ukraine who needs medicines, humanitarian aid and to support the defence of the country.

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