On July 17, 2025, the FCA and Metropolitan Police carried out a significant operation in southwest London, resulting in the arrest of two individuals and the seizure of seven crypto ATMs from four premises.

This crackdown targeted illegal crypto exchanges and money laundering activities, highlighting ongoing efforts to combat financial crime involving cryptocurrencies.

Chambers from the FCA emphasized that there are currently no legally-operating crypto ATMs in the UK, and operating one supports criminal activity.

Therese Chambers of the FCA warned that operating illegal crypto ATMs or exchanges has serious consequences, as such activities facilitate crime.

Detective Inspector Geoff Donoghue from the Met's Cryptocurrency Team reiterated the police's commitment to fighting financial crimes linked to cryptocurrencies and protecting communities.

In the UK, operating a cryptoasset exchange or ATM requires FCA registration, which currently does not exist for any crypto ATMs, making all such operations illegal.

The FCA previously charged an individual in September 2023 for running an illegal network of crypto ATMs that processed over £2.6 million without proper registration.

The suspects arrested during the operation were interviewed under caution and released while investigations continue.

This operation is part of a broader effort by the FCA, which has previously conducted similar crackdowns in locations like Leeds and across London to dismantle illegal crypto networks.

The operation was led by the FCA in collaboration with the Metropolitan Police, demonstrating a coordinated approach to tackling crypto-related financial crimes.

As cryptocurrency usage increases, authorities remain dedicated to combating misuse and ensuring community safety in London.