London’s crypto ATM arrests occur as U.S. states like Wisconsin move to limit daily transactions and mandate fraud warnings.
Authorities seized seven crypto ATMs and arrested two individuals in southwest London on Thursday on suspicion of money laundering and operating an illegal cryptocurrency exchange.
The UK Financial Conduct Authority (FCA) and the Metropolitan Police led the operation, according to a statement by the financial watchdog.
Since January 2021, the FCA requires any crypto business operating in the UK to register and follow anti-money laundering regulations. Currently, no legal crypto ATMs operate in the UK, and using or running one without FCA registration constitutes a criminal offense.
“Serious consequences should be expected by those operating a crypto ATM or exchange illegally,” stated Therese Chambers, executive director of enforcement and market oversight at the FCA. “Currently, no legally-operated crypto ATMs exist in the UK, so using one only supports crime.”
Police interviewed and released the suspects under investigation while the inquiry continues.
US Lawmakers Propose Crypto ATM Regulations
In Wisconsin, a U.S. state where crypto kiosks have become increasingly common, state Senator Kelda Roys and state Representative Ryan Spaude introduced a bill to create safeguards against fraud, hidden fees, deceptive pricing, and scams that can result in significant financial losses.
Lawmakers introduced the legislation after a wave of scams related to digital currencies and crypto kiosks swept the state.
“Everyone deserves accurate information about the risks of certain types of technology, transparency about the costs and fees, and legal guardrails to prevent scams and criminal exploitation,” Roys said at the time. “Cryptocurrency is here and actively being used — and we need to take steps to stop Wisconsinites from getting screwed.”
Legislation Aims to Combat Crypto Scams
Phishing scams are the most common scams involving crypto ATMs; fraudsters trick victims into sending crypto to them by posing as law enforcement, government officials, or utility companies. These often target older and more vulnerable populations.
Victims lost about $247 million to scams that involved crypto ATMs in 2023, according to a report by the FBI.
For the new bill to become law, Spaude and Roys must shepherd it through committees, secure committee and floor approval in both the Assembly and Senate, and obtain the governor’s signature.
In February 2025, Senator Dick Durbin (D–IL) introduced a similar bill in the U.S. Senate on a federal level. If passed, “The Crypto ATM Fraud Prevention Act” would display warnings on kiosks around the country, enforce limits on new customer transactions, and offer scam victims who report fraud within 30 days a full refund.
The US is home to 78.4% of the world’s Bitcoin ATMs, according to data from Coinatmradar.