Illegal Crypto ATM Operations in London: What You Need to Know

Illegal Crypto ATM Charges in London

Habibur Rahman, a 37-year-old individual, has been charged by Kent Police for operating an illegal cryptocurrency ATM at the Gadcet mobile phone shop in London. According to reports, he failed to register the machine with the Financial Conduct Authority (FCA).

Authorities have also accused Rahman of laundering approximately $394,950 in cash derived from criminal activities through this ATM. Notably, there are currently no cryptocurrency ATMs registered with the FCA in the UK.

The FCA has been on a crackdown against unregistered bitcoin ATMs since 2023, executing several raids and seizing multiple machines in the process.