The British financial regulator, the Financial system personal Conduct Authority (FCA), will ban unregistered encrypted money automatic teller machines (ATM) according to law.

The West Yorkshire Police FCA and Internet elite team have taken action against Leeds and a number of encrypted ATM websites around Leeds suspected of misoperation of escrow.

In announcing the news on Feb. 14, FCA stressed that encrypted ATM operators that are not denominated in British currency have FCA applications for registration. Authorities say all encryption swap service providers-including encryption ATM operators-must apply for registration with FCA and comply with UK money laundering policies and regulations.

Marco Blanchett, executive director of FCA inspection, said: "unregistered encrypted ATM machines operating in the UK are illegal." He added that regulators would also continue to disrupt unregistered encryption processes in the UK. The management also mentioned that password products "will not be controlled at this stage, and the risk is very high." he reminded investors to be fully prepared to use the password to lose all their savings.

According to police detective police officer Lindsay Brantz, local inspectors have issued several warning notices to encrypted ATM operators to stop using the device. "all violations will also lead to an investigation in accordance with money laundering requirements," he added.

Based on the information detected by Coin ATM radar, FCA for encrypted ATM operations will obviously be for a very large number of ATM operators, as there are at least 28 addresses in the UK for BTC (BTC) ATM. Data show that more than 50 per cent of encrypted ATM addresses are located in London, UK, as well as locations around Sheffield, Melbourne and Nottingham.

The recent attack on the UK password ATM is not the first time FCA has adopted it. In March 2022, the same authorities issued a similar statement on the suspension of BTC ATMs in that country, calling on ATM operators to "shut down or face further action".

At the time of writing, FCA has issued registration certificates to 41 password companies in the UK, including Gemini, ZODIA escrow, Bitpanda, Revolut and other channels.