UK Seizes Seven Crypto ATMs in Major Action Against Unregistered Exchanges

Highlights:

• UK officers seized seven crypto ATMs in London during a major crackdown on illegal crypto exchange operations.
• The FCA confirmed no crypto ATMs are registered in the UK and warned users that unapproved machines support crime.
• US and global lawmakers are introducing rules to protect users from scams linked to unregulated crypto ATMs.

Police in southwest London (UK) have apprehended two people and seized seven crypto ATMs in a raid focusing on an underground cryptocurrency exchange. The Financial Conduct Authority worked with the Metropolitan Police to search four properties across the city. They conducted the action on Thursday after identifying the unregistered machines.

🚨 UK CRACKDOWN ON CRYPTO ATMs BEGINS 🚨

Regulators Seize Machines as Part of Tougher Crypto Rules In a major move to regulate the digital asset space, UK authorities have started seizing illegal crypto ATMs across the country. The Financial Conduct Authority (FCA) is tightening… pic.twitter.com/CYBJlBE2sT

— The Chain Analyst (@thechainanalyst) July 22, 2025

UK law requires all crypto-related businesses to register with the Financial Conduct Authority and follow anti-money laundering measures. There are no crypto ATMs in the UK that currently meet the legal requirements for operation. Running or using one of these machines without registration is considered a criminal offense.

Therese Chambers, who oversees enforcement and market oversight at the Financial Conduct Authority, warned that anyone involved in illegal crypto operations should expect serious consequences. She confirmed that the use of such machines only supports criminal activity.

The two suspects were interviewed during the investigation and later released. Authorities have not filed charges yet, but the inquiry remains active. Officials have increased efforts to shut down unapproved crypto services across the UK, with this latest action adding pressure on operators.

FCA Steps Up Pressure Following Previous Sentencing and Warnings

Authorities have taken strong steps in the past against illegal crypto ATM operations. Olumide Osunkoya, a UK resident, faced four years in prison after a UK court found him guilty of operating an ATM network worth 2.5 million pounds without authorization. His company, GidiPlus, operated several machines despite receiving a rejection from the Financial Conduct Authority.

Osunkoya used false identity documents and forged paperwork to continue running the network. Investigators discovered that his ATMs lacked required safeguards and applied fees as high as 60 percent. These machines ignored essential checks on the source of funds and customer identity.

The Financial Conduct Authority plays a central role in overseeing crypto service providers. Since January 2021, every crypto business must register before starting operations. Businesses that do not meet these requirements risk investigation and possible legal action. The authorities have also cautioned people against using unregistered machines. Most of these units do not satisfy financial criteria and can be linked to other broader crime syndicates. Since there are currently no legitimate crypto ATMs in the UK, the authorities keep going after users and operators.

Crypto ATM Oversight Expands Globally Amid Scam Concerns

Whereas the UK takes an extreme approach of banning crypto ATMs, other areas are implementing various types of regulations. There are over 30,000 crypto ATMs in operation in the United States, according to the Financial Bank. Nevertheless, the activity of scammers has increased, which has given rise to new legislative proposals.

Dick Durbin, the 47th US Senator from the State of Illinois, proposed the ATM Fraud Prevention Act earlier this year. The bill has various proposals, such as mandating the operators of the machines to take reasonable steps to prevent fraud at their machines. The proposal would display scam warnings on all kiosks and limit transaction amounts for new users.