The UK Financial Conduct Authority (FCA) has reportedly halted 26 cryptocurrency ATMs across the nation, cautioning consumers about their potential risks. This follows an incident in Sheffield where a citizen lost £1,000 after attempting to buy crypto from a crypto ATM. Since the beginning of the year, the FCA, along with other law enforcement agencies, have inspected 34 suspected locations of hosting crypto ATMs, and disrupted 26 machines. Steve Smart, FCA’s Joint Executive Director of Enforcement and Market Oversight, warned the public of the risks due to the absence of consumer protections.
Source: https://www.reuters.com
