UK orders shutdown of 'illegal' Bitcoin cashpoints
All 81 operational Bitcoin cashpoints in the UK must shut down after being declared illegal by the country’s financial regulator. The Financial Conduct Authority has written to the providers with the directive, and raised the prospect of enforcement if it is not obeyed. Most of Britain’s cryptocurrency ATMs are found in convenience shops and supermarkets, and they too have been written to by the FCA. The machines allow users to to exchange cash for Bitcoin but have scant security checks, especially for smaller amounts, and none of their providers are licensed. This has led to concerns they could be used for money laundering, prompting the FCA to act. “We have warned operators of crypto ATMs in the UK to shut their machines down or face enforcement action,” the regulator said. “Crypto ATMs offering crypto-asset exchange services in the UK must be registered with us and comply with UK money laundering regulations. “None of the crypto-asset firms registered with us have been approved...