British authorities have arrested two people and seized several crypto money machines in connection with an investigation into a non -registered cryptocurrency exchange and presumably financial crime.
By one rack The operation was carried out of the UK Financial Conduct Authority (FCA) in collaboration with the Metropolitan Police. Officers searched four buildings in southwestern London, which led to the seizure of seven crypto money machines.
The FCA confirmed that the suspects were being interviewed under caution and were released while investigations continue. No charges have been filed yet and an investigation is still underway.
According to the FCA, it is illegal to operate a cryptoasset exchange or a crypto money machine in the UK without the correct registration. All companies must meet anti-money laundering practices, including the Due Diligence and source of fund controls.
Therese Chambers, executive director of the FCA of enforcement and market overview, said that there are currently no legally operated crypto money machines in the UK, adding that the use of non -registered machines “only supports crime” and warned the operators to expect serious consequences.
The FCA has adopted a strict attitude against illegal crypto -operations. Since January 2021, every crypto company that is active in the UK must be registered with the FCA.
The agency acts as the anti-money laundering practice for crypto service providers and has repeatedly warned the public about the risks related to non-regulated crypto machines.
This week’s arrests follow the first criminal conviction of the UK with non -registered crypto money machines earlier this year. In that case, Osunkoya Olumide was sentenced to four years in prison for running a £ 2.5 million crypto ATM network through his company, Gidiplus.
Osunkoya continued to operate, despite the fact that the FCA registration was refused and was found guilty of using false identity documents, falsification and possession of criminal property. Authorities also discovered that his machines bypassed financial financial guarantees and marketups charged of up to 60%.
While crypto money machines remain prohibited in the UK, other countries use different approaches. In the United States there are more than 29,000 crypto money machines in operation, but the regulatory investigation is increasing.
States such as Nebraska have imposed license rules, transaction hoods and scam promotations, while Spokane City has moved to Crypto money machines in Washington.
Elsewhere, New -Zeeland has implemented a complete ban on crypto money machines. More recently, Australia also introduced stricter checks earlier this month, including cash limits per transaction and mandatory scams warnings, according to several high-quality fraud cases that were linked to Bitcoin money machines.
