British regulator decides to close cryptocurrency ATMs

The British Financial Markets Authority conducted a study. Its results showed that ATMs designed for transactions with cryptocurrencies are illegal. Companies that have installed such ATMs throughout the country do not have the appropriate license. As such, they must be removed as soon as possible. Otherwise, companies that have cryptocurrency ATMs will be penalized. According to the regulator, there are currently more than 80 such ATMs operating in the country. They allow the British to purchase cryptocurrency using bank cards. The FCA reminded residents of the country that the cryptocurrency market is not regulated. In this regard, the state will not be able to protect investors in case of loss of funds from operations with cryptocurrencies. The regulator published a list of companies that illegally installed cryptocurrency ATMs. Some of them have already ceased their activities in this area.

Source: xCritical.com