UK authorities have outlawed cryptocurrency operatorsThe FCA points out that all cryptocurrency companies operating in the UK are required to register and obtain regulatory approval in order to combat the laundering of illicit proceeds. The FCA explains that cryptocurrency ATM operators are classified as crypto-asset exchangers and must comply with local anti-money laundering regulations.
State authorities, based on the data collected, sent a warning to all unregistered cryptocurrency ATM operators about illegal activities.
The regulator draws attention that in case of non-compliance with the order, crypto ATM operators who violated the instruction will be punished with fines and their equipment will be dismantled.
The other day the UK Financial Services Authority said that the heads of cryptocurrency companies could face up to two years in prison for failing to comply with advertising requirements for their products and services.
