Torpedo launched against ATMs Bitcoin – We know the vindictive side of the Financial Conduct Authority (FCA) against the crypto sector since harassing the Binance platform. And the authority of the British markets does not seem to want to stop there. The FCA has indeed just fallen head-over-heels on all the operators of bitcoin vending machines (BTC).
Bitcoin ATM operators ordered to cease all activities
It’s a very nasty trick that the Financial Conduct Authority to companies manufacturing and operating ATMs (ATM) of cryptocurrencies.
In an official press release published on March 11, the English regulator does not hesitate to threaten ATM operators of bitcoin and other crypto-assets “coercive operations” if they don’t stop their machines immediately.
“Cryptocurrency ATMs offering crypto exchange services in the UK must be registered with our services and comply with UK money laundering regulations. None of the cryptocurrency businesses registered with us have been approved to offer crypto ATM services. This means that all those operating in the UK do so illegally, and consumers should not use them. »
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A general ban on the pretext of an ongoing trial
Always quick to harass crypto businesses, the FCA here exploited the legal action of a Bitcoin ATM service called Gidipluswho precisely was appealing in front of’Upper Tribunal against the refusal of the FCA to accept its application for registration.
The judge concluded that there was a “lack of evidence” as to how Gidiplus went about its business in a manner “compliant” anti-money laundering laws. Pending the judgment of Gidiplus’ appeal against the FCA’s decision, the crypto ATM operator therefore finds itself obliged to cease its activities. The perfect opportunity for the British authority, which therefore adds a layer:
“(…) we will contact the operators [d’ATM] asking them to shut down their machines or take other action. »
As of this writing, and according to data from Coin ATM Radar, there is (was?) 80 distributors of bitcoins and other operational crypto-assets. While the British FCA takes every opportunity to bully crypto-companies, let’s remember that the salvador on his side – not satisfied with his yet already 205 ATM in operation – should install 1,500 new crypto-automated tellers.
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