UK Seizes Crypto ATMs As Global Scrutiny Grows Over Unregulated Kiosks
Seven crypto ATMs were seized and two individuals arrested in southwest London for money laundering and operating an illegal cryptocurrency exchange. The UK Financial Conduct Authority (FCA) and Metropolitan Police conducted the operation. Since January 2021, all crypto businesses in the UK must be registered with the FCA, and no legal crypto ATMs currently operate in the country. The suspects were interviewed and released under investigation. In Wisconsin, a bill was introduced to create safeguards against fraud related to crypto kiosks, following a rise in scams. Victims lost approximately $247 million to crypto ATM scams in 2023. The bill must pass through committees and obtain approval from both the Assembly and Senate. A similar federal bill, "The Crypto ATM Fraud Prevention Act," was introduced in February 2025, aiming to implement warnings on kiosks and offer refunds to scam victims. The US hosts 78.4% of the world's Bitcoin ATMs.
