UK Regulators Shut Down Bitcoin Cashpoints

UK Regulators Shut Down Bitcoin Cashpoints
A sign advertises a Bitcoin automated teller machine, ATM, at a shop in Halifax on Feb. 4, 2020. Andrew Vaughan / The Canadian Press
Nicholas Dolinger
Updated:

The United Kingdom ordered on Friday the shutting down of its cryptocurrency cashpoints after financial regulators declared these installations illegal.

The Financial Conduct Authority (FCA), a non-government regulatory body that operates in the UK, declared on Friday that these “cryptocurrency ATMs” are illegal as they currently stand, and must be approved by the FCA and comply with money laundering regulations in order to operate within the law.