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The Financial Conduct Authority (FCA) of the United Kingdom has continued its crackdown on illegal crypto Automated Teller Machines (ATMs), inspecting several sites in the South West of England and Nottinghamshire. According to an official statement on Friday, the FCA inspections were part of an ongoing effort to combat the use of unregulated crypto ATMs, often abused by criminals to launder illegally obtained cash. Crypto ATMs allow people to buy or convert money into crypto assets easily. However, the regulator noted that “there are currently no crypto ATM operators registered with the FCA, “which they must be to operate legally.” In the official statement, Therese Chambers, Executive Director of Enforcement and Market Oversight at the FCA, said: The action we’ve taken over the past few months and wider work shows that we will act to stop illegal activity. Besides disrupting un registered crypto businesses, the joint efforts have helped raise awareness of illeg...

Japan’s Financial Services Agency (FSA) issued a notice warning Bybit Fintech Limited and three other crypto exchanges, including MEXC Global, Bitforex, and Bitget, to get registered to pursue their services as crypto exchanges. Notably, FSA’s move is a part of the country’s initiative to follow necessary regulations in the crypto space. According to the notice received by the four crypto exchanges, none of them could function as crypto exchanges unless they registered themselves. Previously, in 2021, Bybit received a notice from the FSA claiming that the exchange had been running without a legal license. At the same time, the United Kingdom had also raised questions against Bybit regarding similar issues. Significantly, the sudden action on the part of the FSA is an aftermath of the recent fall of the un registered crypto firms in the country. Japan’s regulations on crypto could be traced back to 2018 when the FSA started scrutinizing unregulated crypto exchanges fo...