UK regulator closes new Bitcoin ATMs

The FCA from United Kingdom intensifies its repression against vending machines from crypto-currencies. The financial watchdog has out of use a twenties from new machines.

This Tuesday, the Financial Conduct Authority has announced that it has closed 26 new vending machines which “illegally” offered crypto-currencies like Bitcoin, reports Reuters.

According to the FCAwhich inspected a total of 34 locations across the country that appeared to house ATM cryptocitizens can “lose all their money” by using machines that are not regulated. The watchdog agency reported last year that no such ATMs were registered with it.

If you’re using a crypto ATM in the UK, you’re using a machine that’s operating illegally and you can hand your money over to criminals,” said Steve Smart, joint executive director of enforcement and market surveillance at the FCA.

The regulator further reported that an investor had lost £1,000 trying to buy crypto-currencies via a crypto ATM located in the city of Sheffield.

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“You won’t be protected if something goes wrong and you could lose your money,” added Steve Smart.

According to CoinATMRadartoday more than 36,000 bitcoin vending machines installed around the planet. The data provider lists just 10 in the UK, including 7 in London.

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