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The Guardian - UK
The Guardian - UK
Technology
Kalyeena Makortoff Banking correspondent

City regulator joins Met in raids on suspected crypto ATM operations

Crypto FCA City Mark Steward Police Leeds London United Kingdom
A cryptocurrency ATM at a laundromat in Hong Kong.
A cryptocurrency ATM in Hong Kong. There are no such ATMs registered with the FCA, meaning any operating in the UK are doing so illegally. Photograph: Bloomberg/Getty Images

The City watchdog and local police have raided several sites in east London suspected of housing illegal ATMs distributing cryptocurrencies, as part of a widening crackdown on the sector.

The joint operation between the Financial Conduct Authority (FCA) and Metropolitan police came just weeks after similar raids in Leeds. Those are believed to be the first to target crypto distribution in the UK, including machines that allow customers to buy or convert traditional currencies into cryptoassets such as bitcoin.

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