LONDON, July 11 (Reuters) – Britain’s Financial Conduct Authority said on Tuesday it has stopped 26 machines across the country for illegally offering cryptocurrency, warning consumers they could lose all their money.
A member of the public paid £1,000 at a cryptocurrency ATM in Sheffield, northern England, in an attempt to purchase cryptocurrency, but no cryptocurrency or funds were returned, the FCA said.
The watchdog, in a coordinated operation with other law enforcement agencies, inspected 34 locations suspected of hosting crypto ATMs since the beginning of this year and “disrupted” 26 machines.
“If you use a crypto ATM in the UK, you are using a machine that is operating illegally and may be handing your money over to criminals,” Steve Smart, the FCA’s joint executive director of compliance and market supervision, said in a statement. statement.
“You won’t be protected if something goes wrong and you could lose your money,” Smart said.
Reporting by Huw Jones; Edited by David Evans
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