The UK has released its first lawsuit against a cryptocurrency ATM, accusing a resident of using an illegal ATM to launder £300,000

ChainCatcher news, the UK police have released the country's first cryptocurrency ATM indictment after accusing a resident of operating an illegal cryptocurrency ATM and laundering £300,000 ($395,000).

The UK's Financial Conduct Authority (FCA) issued a cryptocurrency ATM ban in 2022, warning machine operators that they must be registered with the FCA. Subsequently, the regulator launched a crackdown on unregistered cryptocurrency ATMs.

The FCA emphasized in the indictment: "There are currently no cryptocurrency ATMs registered with the FCA, so if you use one of these machines, you may be handing your money over to criminals."