Crypto Crackdown: UK Seizes ATMs, US Eyes New Regulations

UK Authorities Clamp Down on Illegal Crypto Activities

In a daring move to curb illegal crypto operations, seven cryptocurrency ATMs were nabbed, and two individuals found themselves handcuffed in southwest London on Thursday. The duo is suspected of being involved in money laundering and running an unauthorized crypto exchange.

This crackdown was orchestrated by the UK Financial Conduct Authority (FCA) in collaboration with the Metropolitan Police, in keeping with an announcement from the financial watchdog.

Since the beginning of 2021, the UK has made it mandatory for any crypto business to register with the FCA and cling to stringent anti-money laundering protocols. As it stands, there are not any legally sanctioned crypto ATMs within the UK, making the operation of such machines without FCA approval a criminal act.

Therese Chambers, the FCA’s head honcho for enforcement, didn’t mince words: “If you’re running a crypto ATM or exchange without the proper paperwork, brace yourself for serious repercussions. There are zero legal crypto ATMs in the UK, so using one only aids illegal activities.”

For now, the suspects have been released but remain under investigation because the inquiry unfolds.

US Lawmakers Aim to Rein in Crypto ATM Scams

Across the pond in Wisconsin, crypto kiosks are cropping up like daisies. In light of this boom, state Senator Kelda Roys and Representative Ryan Spaude have introduced laws geared toward safeguarding the general public from fraud, hidden fees, and misleading pricing tactics that could lead on to hefty financial hits.

The bill is available in response to a surge of scams linked to digital currencies and crypto ATMs sweeping through the state.

“Everyone deserves clear info about the potential pitfalls of certain technologies, transparency in costs, and legal protections against scams,” Roys identified. “Cryptocurrency is here to stay, and we need to ensure Wisconsinites don’t get taken for a ride.”

New Legislation Targets Crypto Scams

Among probably the most prevalent scams involving crypto ATMs are phishing schemes, where unsuspecting victims are duped into sending cryptocurrency to fraudsters posing as law enforcement, government officials, or utility company representatives. These scams often prey on older and more vulnerable individuals.

The FBI reported that in 2023 alone, victims lost a staggering $247 million to scams involving crypto ATMs.

For this latest piece of laws to turn out to be law, Spaude and Roys might want to guide it through various committees, secure approvals in each the Assembly and Senate, and at last, get the governor’s nod.

On a federal level, US Senator Dick Durbin introduced an identical bill in February 2025. Dubbed “The Crypto ATM Fraud Prevention Act,” the bill goals to display scam warnings on kiosks nationwide, cap latest customer transactions, and offer full refunds to victims who report scams inside 30 days.

According to data from CoinATMradar, the US hosts a whopping 78.4% of the world’s Bitcoin ATMs—a staggering statistic that underscores the necessity for regulatory measures.