FCA and Metropolitan Police Seize Seven Crypto ATMs in London Crackdown

UK regulators have dismantled seven cryptocurrency ATMs in a coordinated operation across southwest London. The Financial Conduct Authority (FCA) and Metropolitan Police executed raids on four properties, targeting unregistered crypto operations. Operating such devices without FCA authorization violates anti-money laundering rules and carries criminal penalties.

Two individuals were interrogated under caution and released pending further investigation. Therese Chambers, the FCA's Executive Director of Enforcement, issued a stark warning: "Using unregistered crypto ATMs effectively bankrolls criminal activity—there are no legally compliant machines currently operating in the UK."

This crackdown extends the FCA's ongoing campaign against illicit crypto infrastructure. Since 2023, regulators have inspected 34 sites nationwide, shuttering 26 illegal ATMs. Steve Smart of the FCA emphasized the risks: "Every transaction at these machines potentially funnels money to bad actors."