In May and June, the Financial Conduct Authority (FCA), which is responsible for cracking down on crypto ATMs across the UK, inspected another 18 sites to bring the total inspections this year to 34. The regulator has said that it has “disrupted”, 26 machines illegally operating across the country.

Financial watchdog carried out the inspections with the South West Regional Organized Crime Unit, and the police forces in Greater London and Bedfordshire.

One member of the public paid 1,290 British pounds (1,290 euros) into a cryptocurrency ATM. Even though the machine reported that the transaction had failed, the funds were not returned.

Since March 2022 , the FCA has sent out various warnings to the public informing them that all crypto ATMs are illegal and that they will not be covered if something goes wrong.

The FCA warned that there are 10 such locations in the country. According to the data site , there are 10 of these ATMs in the UK.

Read more: Bitcoin Depot, a crypto ATM operator, saw its stock rise 12% on the first day of trading.

Sheldon Reback is the editor.