Steve

Coin

<ul class="news-points"> 
 <li>Britain’s Financial Conduct Authority shut down 26 crypto ATMs across the country.</li> 
 <li>The ban was based on the allegations that the ATMs have been illegally offering cryptocurrencies.</li> 
 <li>The FCA warned the public that their money could be lost during crypto ATM transactions.</li> 
</ul> 
The Financial Conduct Authority (FCA) of Britain has decided to shut down 26 <a href="https://coinedition.com/what-is-cryptocurrency-a-complete-beginners-guide/">cryptocurrency</a> ATMs across the nation alleging illegal services. The authority claimed that these machines have been functioning illegally offering cryptocurrencies, and warned investors that their money could be lost during crypto ATM transactions. 
The report dated July 11 stated that the FCA’s decision came following some recent incidents in distinct parts of the country. For instance, one person lost his money the previous day during a crypto ATM transaction. Though he paid thousand pounds into the ATM, he neither received back cryptocurrencies nor the amount paid. 
Steve Smart, the joint executive director of FCA’s enforcement and market oversight apprised the crypto community of the dangers behind using crypto ATMs, stating: 
<blockquote class="wp-block-quote"> 
 If you use a crypto ATM in the UK, you are using a machine that is operating i…
</blockquote>
The post <a rel="nofollow" href="https://coinedition.com/crypto-atms-pose-threat-britains-fca-stops-26-machines/">Crypto ATMs Pose Threat: Britain’s FCA Stops 26 Machines</a> appeared first on <a rel="nofollow" href="https://coinedition.com">Coin Edition</a>.

Crypto ATMs Pose Threat: Britain’s FCA Stops 26 Machines

Coin Edition

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