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What is Blockchain Finance ? Blockchain & International Commercial Shipping
Brother just got this scam text and even a "screenshot" from the account. Brother don't even have a blockchain account
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"Crypto ATMs offering cryptoasset exchange services in the UK must be registered with us and comply with UK Money Laundering Regulations (MLR). None of the cryptoasset firms registered with us have been approved to offer crypto ATM services, meaning that any of them operating in the UK are doing so illegally and consumers should not be using them." FCA. Effectivwly, UK government banned ATMs without actually passing any laws.
tldr; Kraken's Crypto Facilities, a subsidiary of Kraken, has appointed hedge fund veteran Mark Jennings as its new CEO. The UK-based derivatives platform aims to increase its visibility and expand its offerings to institutions. Crypto Facilities provides regulated access to cryptocurrency futures and has licenses from the Financial Conduct Authority (FCA) and MLR. Jennings plans to emphasize the platform's institutional derivative venues and increase its presence in the UK. The appointment comes as institutional adoption of cryptocurrencies grows and the UK becomes a crypto hot spot. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
They're not illegal. Only illegal if not registered and not complying with MLR.
From the UK [Financial Conduct Authority](https://www.fca.org.uk/news/news-stories/warning-illegal-crypto-atms-operating-uk)y (FCA): > Crypto ATMs offering cryptoasset exchange services in the UK must be registered with us and comply with UK Money Laundering Regulations (MLR). None of the cryptoasset firms registered with us have been approved to offer crypto ATM services, meaning that any of them operating in the UK are doing so illegally and consumers should not be using them.
tldr; All cryptocurrency ATMs in the UK are operating illegally and must be shut down now, the Financial Conduct Authority (FCA) has said. Terminals accepting or dispensing crypto-coins in the country must be registered with the watchdog to make sure they comply with the Money Laundering Regulations (MLR), which came into effect for digital assets in 2020. The FCA warned them to shut down their machines or "face further action". *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
>“Crypto ATMs offering cryptoasset exchange services in the UK must be registered with us and comply with UK Money Laundering Regulations (MLR),” the FCA declared this afternoon.
tldr; UK’s Financial Conduct Authority (FCA) has ordered all crypto ATMs in the country to be shut down as they are operating illegally. Any ATM offering cryptoasset exchange services in the UK needs to be registered with the FCA and comply with the country's Money Laundering Regulations (MLR). None of the 27 crypto firms fully registered with FCA have received approval for offering ATM services. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
Misleading headline, crypto ATMs are fine as long as the company is registered in the UK. Don't spread FUD and read the damn article so you can put a proper title together that isn't completely misleading. Direct quote from the article if you had even clicked the link and read two paragraphs. “Crypto ATMs offering cryptoasset exchange services in the UK must be registered with us and comply with UK Money Laundering Regulations (MLR). None of the cryptoasset firms registered with us have been approved to offer crypto ATM services, meaning that any of them operating in the UK are doing so illegally and consumers should not be using them.”
This title is click bait. They did this: *CRYPTO ATMS PROVIDING CRYPTO ASSET EXCHANGE SERVICES IN THE UK MUST BE REGISTERED WITH OUR AGENCY AND COMPLY WITH THE UK MONEY LAUNDERING REGULATIONS (MLR). NONE OF THE CRYPTO ASSET COMPANIES REGISTERED WITH US HAVE RECEIVED APPROVAL FROM US FOR CRYPTO ATM SERVICES. THIS MEANS THAT ANY COMPANY OPERATING IN THE UK IS PROVIDING THIS SERVICE ILLEGALLY AND CONSUMERS SHOULD NOT USE THEM. - MLR* Which is totally logic. They just need to register and receive that approval.
tldr; The UK Financial Conduct Authority (FCA) has ordered operators of all cryptocurrency ATMs installed in the country to remove their ATM devices. This ruling includes all UK Bitcoin ATMs that have been declared illegal under UK Money Laundering Regulations (MLR) and have not been formally approved by the FCA. According to the data, there are 81 active crypto ATMs in the UK. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
To save a click: Crypto ATMs offering cryptoasset exchange services in the UK must be registered with us and comply with UK Money Laundering Regulations (MLR). None of the cryptoasset firms registered with us have been approved to offer crypto ATM services, meaning that any of them operating in the UK are doing so illegally and consumers should not be using them.