FCA cracks down on East London crypto ATMs
By Iain Gilbert
Date: Wednesday 08 Mar 2023
(Sharecast News) - The Financial Conduct Authority revealed on Wednesday that it has made moves to further crackdown on unregistered cryptocurrency ATMs in East London.
In a joint operation with the Metropolitan Police, the FCA inspected several sites in East London suspected of hosting illegally operating crypto ATMs as part of its ongoing efforts to bring the illicit sector into line.
Mark Steward, the FCA's executive director of Enforcement and Market Oversight, said: "This operation, alongside last month's action in Leeds, sends a clear message that we will continue to identify and disrupt unregistered crypto businesses in the UK.
"The FCA is currently working with the National Economic Crime Centre to plan and coordinate action with law enforcement partners against operators of illegal crypto ATMs. This follows similar activity in Leeds, where the FCA inspected several sites suspected of hosting unregistered crypto ATMs, alongside West Yorkshire Police."
Reporting by Iain Gilbert at Sharecast.com
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