8 or so years ago in uptown manhattan you'd see these btc ATMs in shady bodegas that I was convinced were being used for laundering money back, unless the frequenters of the surrounding methadone clinics were more astute investors than what I assumed.
This is not really news - these people just didn't get licensed. There probably never will be any more licensed operators in the UK because the FCA is creating increasingly onerous requirements. In America every week there are unlicensed money transmitter prosecutions including for crypto ATMs, Paxful traders, Hawaladars (and their Chinese equivalents), etc. You have to fill out a form on the FINCEN website, get a lawyer to give you a template compliance manual, and depending on your state do the same thing there. Not really a big deal.
> There are no crypto ATMs registered with the FCA, meaning any crypto ATM operating in the UK is doing so illegally.<p>Who is stupid enough to operate a ATM (cryptocurrency or not) illegally? This has the be the height of stupidity.
Surely anyone using an ATM already passed KYC as they are using a bank account?<p>Do LINK etc separately KYC me when I use a machine for (GBP) cash? I doubt it...