U.K. Orders Termination of Bitcoin ATMs

Key Points:

The United Kingdom’s central financial regulator, Financial Conduct Authority (FCA), has ordered the termination of Bitcoin ATMs that are operational in the country. The U.K. has approved 33 crypto companies registration under the Money Laundering Regulations (MLRs) to offer cryptocurrency related services in the country, none of which have been approved to operate crypto ATMs. The FCA has issued orders to shut down the machines or face further action.

The FCA also has a running public list of unregistered cryptoasset businesses and has found that since publishing the list, 110 of those firms are no longer operational.

The FCA can take steps to suspend or cancel the registration of a cryptoasset business if it is not satisfied the firm or its beneficial owner is fit and proper. 
The FCA also has powers to suspend or cancel a firm’s cryptoasset registration on a number of grounds, including where a firm has not complied with obligations under the Money Laundering Regulations. 
https://www.fca.org.uk/news/press-releases/recent-statements-binance-and-eqonex-limited

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