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In a landmark case the Financial Conduct Authority (FCA) secured its first conviction for illegal crypto ATM operation in the UK, underscoring the importance of The FCA is working with the National Economic Crime Centre to plan and coordinate action with law enforcement partners in relation to operators of illegal crypto ATMs. Olumide Osunkoya, a 46-year-old British man, was found guilty of operating an illegal crypto ATM network worth over £2.5 million, and his case serves as a clear warning Cryptoasset exchange providers in the UK must be registered with the FCA and comply with the UK Money Laundering Regulations. This includes operators of crypto It is illegal to operate crypto ATMs in the UK without FCA registration. Mr Osunkoya later transferred the machines from GidiPlus Ltd and personally operated a reduced Last week, the UK’s Financial Conduct Authority (FCA) secured a four-year prison sentence for Olumide Osunkoya, following his guilty plea to illegally operating a 10 de sept. de 2025 On, Kent Police charged an individual for running a single crypto ATM without FCA permission. This was the first charge of its kind brought against an The Financial Conduct Authority (FCA), the financial regulator of the United Kingdom, has taken action against cryptocurrency ATMs, disrupting 26 out of the 34 machines

UK FCA Cracks Down on Illegal Cryptocurrency ATMs: Landmark Conviction

The UK's Financial Conduct Authority (FCA) is intensifying its efforts to disrupt the operation of illegal cryptocurrency ATMs across the country. In a landmark case, the Financial Conduct Authority (FCA) secured its first conviction for illegal crypto ATM operation in the UK, underscoring the importance of compliance and highlighting the consequences for those who flout the law. The FCA's actions send a clear message: operating crypto ATMs without proper authorization is a serious offense.

FCA Targets Illegal Crypto ATM Networks

The Financial Conduct Authority (FCA) is working with the National Economic Crime Centre to plan and coordinate action with law enforcement partners in relation to operators of illegal crypto ATMs. The goal is to dismantle these illegal networks and protect consumers from potential financial harm. Recent actions have seen the Financial Conduct Authority (FCA), the financial regulator of the United Kingdom, has taken action against cryptocurrency ATMs, disrupting 26 out of the 34 machines.

Landmark Case: Four-Year Prison Sentence for Illegal Crypto ATM Operator

Last week, the UK’s Financial Conduct Authority (FCA) secured a four-year prison sentence for Olumide Osunkoya, following his guilty plea to illegally operating a 10 de sept. de 2025 On. Olumide Osunkoya, a 46-year-old British man, was found guilty of operating an illegal crypto ATM network worth over £2.5 million, and his case serves as a clear warning to others involved in similar activities. Mr Osunkoya later transferred the machines from GidiPlus Ltd and personally operated a reduced number of ATMs illegally.

Cryptoasset Exchange Providers Must Register with the FCA

Cryptoasset exchange providers in the UK must be registered with the FCA and comply with the UK Money Laundering Regulations. This includes operators of crypto ATMs. It is illegal to operate crypto ATMs in the UK without FCA registration. This regulation is in place to ensure transparency, prevent money laundering, and protect consumers. On, Kent Police charged an individual for running a single crypto ATM without FCA permission. This was the first charge of its kind brought against an individual for this specific offense, further demonstrating the FCA's commitment to enforcing the law.

The Future of Crypto ATMs in the UK

The FCA's continued efforts to disrupt illegal crypto ATMs are likely to shape the future of cryptocurrency accessibility in the UK. While legitimate crypto businesses are encouraged to operate within the legal framework, the FCA is determined to clamp down on those who operate outside the law. This action seeks to protect the integrity of the UK financial system and safeguard consumers from the risks associated with unregulated crypto assets.

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