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Benzinga
Benzinga
Business
Adrian Zmudzinski

UK Regulator Bans Crypto ATMs: 'People Should Be Prepared To Lose All Their Money'

United Kingdom financial regulator Financial Conduct Authority (FCA) has ordered all cryptocurrency automated teller machines (ATMs) — machines autonomously selling cryptocurrency, usually Bitcoin (CRYPTO: BTC) — to be shut down.

What Happened: According to data from Coin ATM Radar, there were about 80 crypto ATMs in the U.K. as of Friday — but soon there will be none. As of press time, this number is already down to 41.

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