Bitcoin ATMs Illegal in the UK, Regulator Says

The FCA “warned” crypto ATM operators in the UK to “shut their machines down” or “face enforcement action”

article-image

Bitcoin ATM | Source: Shutterstock

share
  • There are 80 bitcoin ATMs or tellers in the UK, per data from Coin ATM Radar
  • The FCA said “people should be prepared to lose all their money” if they invest in crypto assets because they are unregulated

The Financial Conduct Authority (FCA) said on Friday that all crypto ATMs are prohibited from operating in the UK.

The regulator “warned” crypto ATM operators to “shut their machines down” or “face enforcement action,” according to a Friday statement.

Data from Coin ATM Radar shows 80 bitcoin ATMs or tellers operate in the UK, none of which has been approved to offer crypto ATM services.

“We regularly warn consumers that crypto assets are unregulated and high-risk, which means people are very unlikely to have any protection if things go wrong, so people should be prepared to lose all their money if they choose to invest in them,” the FCA said in its announcement.

The news follows UK tax watchdog Her Majesty’s Revenue and Customs’ confiscation of three NFTs last month in an almost $2 million fraud probe. 

Three people were arrested on suspicion of fraud as a result of the investigation. Suspects used virtual private networks (VPNs), stolen identities, fake addresses and unregistered phones to try to hide illegal activities.

This was the country’s first seizure of a blockchain-based digital collectible.

Nick Sharp, deputy director of economic crime at Her Majesty’s Revenue and Customs, told the BBC that the authority is “constantly adapting to new technology to ensure [they] keep pace with how criminals and evaders look to conceal their assets.”

The use of bitcoin ATMs has come under increasing scrutiny elsewhere in the world as well. New licensing guidelines from the ​​Monetary Authority of Singapore (MAS) forced ATM operators there to shut down in January.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Research Report Templates (1).png

Research

Aave’s revenues have doubled from April lows and are fast approaching all-time highs. With 35% of borrow interest coming from ETH and 55% from stablecoins, Aave is emerging as a powerful proxy as an ETH and stablecoin beta. As looping strategies accelerate growth and Horizon positions the protocol to ride the RWA wave, Aave is shaping up as one of DeFi’s most compelling multi-narrative plays.

article-image

Private testnet aims to deliver low-cost settlement with partners including Visa, Deutsche Bank, and OpenAI

by Blockworks /
article-image

Solana saw $78 million in REV for August

article-image

Lit Protocol’s Vincent is shifting agentic finance from toy demos to production rails

article-image

The new system aims to unify Europe’s fragmented tokenized asset settlement and cut cross-border costs

by Blockworks /
article-image

Tron slashed fees by 60% as Plasma looms, threatening its USDT moat

article-image

The acquisition adds evaluation-based funding to Kraken Pro, giving traders access to capital on performance

by Blockworks /