Seven crypto ATMs have been seized, and two people were arrested on Friday in southwest London and arrested on suspicion of money laundering and operating illegal cryptocurrency exchanges.
The operation was led by the UK Financial Conduct Authority (FCA) and Metropolitan Police, according to a statement from Financial Watchdog.
From January 2021 onwards, cryptocurrency businesses operating in the UK must register with the FCA and comply with anti-money laundering regulations. Currently, there are no legal cryptographic ATMs operating in the UK, so using or performing one without an FCA registration is a crime.
“If you run a crypto ATM or exchange it illegally, you should expect serious consequences,” said Therese Chambers, executive director of FCA execution and market surveillance. “Currently, there are no legally operated crypto ATMs in the UK, so using one only supports crime.”
The suspect was interviewed during the investigation and was released during the investigation.
Related: Tasmania Police Discovers Top 15 Crypto ATM Users Are Victims of Scream
US lawmakers propose regulations regarding cryptographic ATMs
In Wisconsin, the US, where crypto kiosks are becoming more and more common, it was introduced by state Senator Kelda Lloyd and state legislator Ryan Spard to create a safeguard against fraud, hidden fees, deceptive pricing and fraud.
The law was introduced after a wave of fraud related to digital currency and crypto kiosks swept the state.
https://www.youtube.com/watch?v=alc2u0ynfca
“Everyone deserves accurate information on the risks of certain types of technology, transparency regarding costs and fees, and legal guardrails to prevent fraud and criminal exploitation,” Royce said at the time. “The cryptocurrency is here and is being used actively, and we need to take steps to ensure Wisconsin is not screwed.”
The new law aims to tackle crypto fraud
The most common scam, including crypto ATMs, is phishing scams, where victims are tricked into sending codes to law enforcement, government officials, or fraudsters pretending to be utility companies. They often target older, more vulnerable populations.
According to an FBI report, the victim lost roughly $247 million in a scam involving Crypto ATM in 2023.
For the new bill to become law, Spaude and Roys must defend the bill through committees, maintain committee and floor approvals in both Congress and the Senate, and obtain the governor’s signature.
A similar bill was introduced in the US Senate at the federal level by Senator Dick Durbin (D – IL) in February 2025. If passed, the Crypto ATM Fraud Prevention Act will display warnings about kiosks nationwide, implement new customer transactions restrictions, and provide a full refund to fraud victims who report fraud within 30 days.
According to Coinatmradar data, 78.4% of the world’s Bitcoin ATMs live in the US.
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