{"id":7119,"date":"2022-03-11T17:21:03","date_gmt":"2022-03-11T17:21:03","guid":{"rendered":"https:\/\/tahrir2day.com\/news\/2022\/03\/11\/bitcoin-cash-machines-ordered-to-shut-down-in-uk\/"},"modified":"2022-03-11T17:21:03","modified_gmt":"2022-03-11T17:21:03","slug":"bitcoin-cash-machines-ordered-to-shut-down-in-uk","status":"publish","type":"post","link":"https:\/\/tahrir2day.com\/news\/2022\/03\/11\/bitcoin-cash-machines-ordered-to-shut-down-in-uk\/","title":{"rendered":"Bitcoin cash machines ordered to shut down in UK"},"content":{"rendered":"
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All of the UK’s cryptocurrency ATMs (ATMs) are operating illegally and must be shut down, the Financial Conduct Authority has announced.<\/b><\/p>\n<\/div>\n

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Crypto ATMs look like regular ATMs and allow people to buy cryptocurrencies like bitcoin using their bank cards.<\/p>\n<\/div>\n

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But no company offering cryptocurrency services in the UK is licensed to operate a crypto ATM.<\/p>\n<\/div>\n

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The FCA said all of these machines must be shut down or they will take action.<\/p>\n<\/div>\n

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According to crypto ATM directory Coin ATM Radar, there are 81 working crypto ATMs in the UK.<\/p>\n<\/div>\n

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The FCA said: \u201cWe regularly warn consumers that crypto assets are unregulated and high risk, which means people are very unlikely to be protected if something goes wrong.<\/p>\n<\/div>\n

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“People should be prepared to lose all their money if they decide to invest in them.”<\/p>\n<\/div>\n

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The FCA publishes a list of companies that appear to be involved in cryptocurrencies but have not registered their business with the regulator for money laundering checks.<\/p>\n<\/div>\n

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Since the publication of their list, 110 of the crypto companies have stopped trading.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

All of the UK’s cryptocurrency ATMs (ATMs) are operating illegally and must be shut down, the Financial Conduct Authority has announced. Crypto ATMs look like regular ATMs and allow people to buy cryptocurrencies like bitcoin using their bank cards. But no company offering cryptocurrency services in the UK is licensed to operate a crypto ATM. 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