Seven crypto ATMs were seized in southwest London on July 18 during a joint operation by the Financial Conduct Authority (FCA) and the Metropolitan Police.
Two individuals were arrested on suspicion of money laundering and running an unregistered cryptocurrency exchange.
The FCA confirmed that since January 2021, any crypto business in the UK must register with the regulator and follow anti-money laundering regulations.
No crypto ATMs are currently registered with the FCA. Operating or using a Bitcoin ATM without registration is a criminal offense in the country.
Therese Chambers, executive director of enforcement at the FCA, said:
“There are currently no legally-operated crypto ATMs in the UK, so using one only supports crime.”
The suspects have been released under investigation. Authorities did not disclose the ATM brands or the total funds involved.
Crypto ATM Scams Trigger U.S. State-Level Action
In the U.S., state lawmakers are reacting to rising crypto ATM scams. Wisconsin introduced new legislation targeting fraud related to Bitcoin ATMs.
The bill was submitted by Senator Kelda Roys and Representative Ryan Spaude.
The proposal includes daily transaction limits, clear warnings on kiosks, and rules for fee disclosures. The goal is to reduce scams and deceptive practices tied to crypto ATM use.
The bill follows a rise in scam reports across the state, often involving phishing.
Victims are tricked into using cryptocurrency ATMs to send funds to scammers posing as police, tax officials, or utility companies.
These scams mostly target older and vulnerable individuals. The legislation aims to set legal protections without banning the technology itself.
Crypto ATM Fraud Losses Hit $247 Million in 2023
According to FBI data, crypto ATM fraud caused losses of about $247 million across the U.S. in 2023. These scams often begin with phone calls or phishing messages. Victims are instructed to withdraw cash and send it using a nearby Bitcoin ATM.
In Tasmania, police found that the top 15 crypto ATM users had all fallen victim to scams. Many were not aware that the ATMs were not traceable and had no support services once the funds were transferred.
In response, Senator Dick Durbin (D–IL) introduced the “Crypto ATM Fraud Prevention Act” in February 2025. The bill would require on-screen warnings and refund mechanisms for scam victims who report within 30 days. It also proposes transaction limits for new users.
U.S. Hosts Majority of Global Bitcoin ATMs
According to CoinATMradar data, the U.S. holds 78.4% of the world’s Bitcoin ATMs. These kiosks are commonly found in gas stations, shopping centers, and convenience stores. Many operate with limited regulation, especially at the state level.
The proposed Wisconsin bill must pass through committee reviews and both chambers of the legislature before it reaches the governor.
Meanwhile, crypto ATM scams continue to rise, prompting more scrutiny of kiosk-based crypto services.
Although most attention focuses on state rules, the federal bill introduced in the U.S. Senate could apply nationwide.
Its progress will determine whether warnings and fraud limits become mandatory across all cryptocurrency ATM networks in the country.
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