The Financial Conduct Authority (FCA) reported on Tuesday that another 18 crypto sites were inspected in a coordinated operation with the Serious Organised Crime Agency (SOCA), H.M. Revenue and Customs (HMRC), the National Crime Agency (NCA) and the Metropolitan Police this May and June. As a result of the visits, the FCA states 26 crypto ATMs were unfortunately disrupted across the UK – as part of operations ongoing aim to crackdown on the illicit sector. This comes as part of increasing actions taken by the watchdog against legitimate crypto exchange technology, earlier seen as well when they were contacted by an individual whose money was not returned after a purchase was unsuccessful. Several visits in various locations including East London, Leeds, Exeter, Sheffield, and Nottingham have been carried out this year as of which in March Made the crypto operators either shut down their machine, or face immense consequences of going against the legal Money Laundering Regulations. Asserting their motion, Steve Smart of the FCA enforcement and Market Oversight finally warned the public to stay away from these crypto ATMs, as there could be no certain protection from recovering the money if lost.
