Cryptocoin ATMs Ruled Illegal – “Shut Down Immediately,” Regulator Says – Naked Security

Have you ever wanted or needed to buy or sell cryptocurrency on a whim, without being connected to the internet?

Have you ever felt like shelling out 100,000 satoshis or so at 3am to treat your party buddies to a kebab festival on their way home after a big night out?

Well, if you live in the UK, you can’t easily do any of these things anymore.

Last Friday, the UK’s FCA, in a nutshell Financial Conduct AuthorityPublication of an official bulletin entitled: Warning about illegal crypto ATMs operating in the UK.

You might think this would leave a bunch of legal ATMs online, but the FCA says that there are, in fact, no properly registered cryptocurrency ATMs anywhere in the country, so they should all shut down at once, otherwise:

Crypto ATMs offering crypto-asset exchange services in the UK must be registered with [the FCA] and compliance with UK Money Laundering Regulations (MLR). None of the crypto asset companies registered with us have been approved to provide crypto ATM services, which means that none of them operating in the UK are doing so illegally and consumers should not use them.