Bitcoin cash machines ordered to shut down in UK
All UK crypto-currency cash machines (ATMs) are operating illegally and must be shut down, the Financial Conduct Authority has announced.
Crypto-ATMs look like regular cash machines and let people buy crypto-currency, such as Bitcoin, using their bank cards.
But no company offering crypto-currency services in the UK has a licence to operate a crypto-ATM.
The FCA said all such machines must be shut down or it will take action.
According to crypto-ATM directory Coin ATM Radar, there are 81 functional crypto-ATMS in the UK.
The FCA said:
“We regularly warn consumers that crypto-assets are unregulated and high-risk which means people are very unlikely to have any protection if things go wrong.
People should be prepared to lose all their money if they choose to invest in them.”
The FCA publishes a list of companies that appear to be involved in crypto-currency but have not registered their business with the regulator for anti-money-laundering checks.
It said that since the publication of its list, 110 of the crypto companies had ceased trading.
See more here: bbc.co.uk
Header image: Reuters
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Ken Hughes
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“There shall be no crypto currency in the UK”,…..(Except the Bank of England digital currency)
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T. C. Clark
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Crypto is Tulip Mania and Greater Fool Theory and it is used by criminals like hackers who demand payments in crypto to undo some computer hack. I am totally amazed at how much money has gone into the stuff. There is a guy who apparently went into Bitcoin early and has millions in his account….but lost his password…and is down to a few guesses left. A young couple had their financial account broken into and for some reason had their Bitcoin password stolen…$120k gone and of course no recourse from Bitcoin….no Mr. Bitcoin…no 800 no…..just gone in seconds baby.
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Mark Tapley
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Many people buy into the crypto craze, thinking they are bypassing the banking cartel’s fiat system and the establishment. The truth is that the same parasitic elite that are buying up all the world’s real. assets in the real economy with monetized debt, curtesy of you’re shabbas butt goy government’s collusion, these same insider criminals also (surprise) hold the lion share of crypto. Just as the insiders control the fiat debt money, they also run the ethereal cyber world:
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