U.K. targets illegal crypto ATMs as the digital pound receives new pushback UK digitalpound centralbankdigitalcurrency
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“Unregistered Crypto ATMs operating in the UK are doing so illegally,” said Mark Steward, executive director of enforcement and market oversight at the FCA. “We will continue to identify and disrupt unregistered crypto businesses operating in the UK. Crypto businesses operating in the UK need to be registered with the FCA for anti-money laundering purposes.
The FCA is now looking to take a more active role in disrupting and disabling illegal crypto ATMs in the country and is working with multiple law enforcement partners, including local police forces, to shut down the illegal operations. The regulator is currently in the process of reviewing all evidence gathered during the police visitations and is considering further potential enforcement actions.
Members of the council’s advisory board – which includes economists John Chown, Patrick Minford, and Julian Jessop – have stated that “the decision of the Bank of England to pursue a British CBDC raises a number of very real concerns.” The group now looks to raise awareness of the “increased government surveillance” that CBDCs may entail.
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