On 5 May 2023, the FCA announced that it has taken further action against unregistered crypto ATMs across the UK.

The FCA has used its powers to inspect sites in Exeter, Nottingham and Sheffield. The inspections were part of a joint operation with the South West Regional Organised Crime Unit, Yorkshire and Humber Regional Organised Crime Unit and Nottinghamshire Police Force.

Crypto ATMs allow people to buy or convert money into cryptoassets. There are no crypto ATM operators registered with the FCA, which they must be to operate legally.

Previously, the FCA inspected several premises in Leeds and East London which were suspected of hosting unregistered crypto ATMs, alongside regional organised crime units.

The FCA will review evidence gathered during these visits and consider taking further action where necessary.