But i also have idea of how UK governments wants to control everything even if they have started to promote BTC (according to last week news). But still they are shutting down BTC ATMs doesn't make sense. Or maybe these ATMs were used for money laundering or anything illegal that's why they are making some bold moves.
I don't know the news you are talking about, but the U.K. government are not promoting BTC, and they are cracking down on BTC ATM's because they are all unregistered. 
Topic: Shuting down all bitcoin ATMs illegally operating in Uk - page 2. (Read 242 times)
Steve Smart who is the joint executive director of enforcement and Market oversight at the FCA said this:
These are the people that give bitcoin a bad name. I know there will always be bad actors no matter what but I hate that they there people who are bent on doing the wrong thing knowing consciously that it is wrong. I know that the government may not be our best buddies when it comes to crypto and bitcoin in particular but then laws are meant to be obeyed so that the citizenry can be protected.
I agree with the action taken by the UK government. I don't think they made bitcoin a bad name, it was the company that installed the bitcoin atm that made bitcoin a bad name. The actions taken by the government are correct, it must be firm against illegal practices so that legal businesses can develop properly.
If the government allows illegal practices then this will give bitcoin a bad name, because people will think that bitcoin is always associated with illegal actions. It's time for bitcoin to follow the existing rules so that many people believe in bitcoin. Although maybe many people don't like it when the government interferes in bitcoin, when it's like that, bitcoin will always be considered negatively by people who don't know about bitcoin.
But in legal companies, will transactions that occur at bitcoin ATMs be reported to government financial authorities?
These are the people that give bitcoin a bad name.
Give Bitcoin a bad name in what way, if I may ask? Those who are operating the illegal Bitcoin ATM are giving a bad name to their company and not to Bitcoin; in fact, the entire Tech company, if they are found guilty of any illegal activities, will be remembered for that and their reputation will be ruined, but it won't change anything for Bitcoin.
The only thing that I see as negative here is that those Bitcoin ATMs being removed might make it a little difficult for those who only know how to fund their wallets using those ATM machines.
But my question here is: how will an ATM be mounted in a city without the knowledge of any single regulatory body? To some point, I believe they might be illegal, but they are not completely unlicensed, for there is no way such an operation, which is worth thousands of dollars, will take place with even the local or state regulatory authorities not giving permission to that company.
Quote
The U.K.’s Financial Conduct Authority (FCA) is proceeding with efforts to shut down all bitcoin ATMs “illegally operating” in the country. After more inspections in the past couple of months, the watchdog vowed to continue to take action against operators of unregistered crypto teller machines.
https://news.bitcoin.com/uk-regulator-continues-crackdown-on-crypto-atms-checks-18-new-sites/
https://news.bitcoin.com/uk-regulator-continues-crackdown-on-crypto-atms-checks-18-new-sites/
These are the people that give bitcoin a bad name. I know there will always be bad actors no matter what but I hate that they there people who are bent on doing the wrong thing knowing consciously that it is wrong. I know that the government may not be our best buddies when it comes to crypto and bitcoin in particular but then laws are meant to be obeyed so that the citizenry can be protected.
I am really curious about illegally operating ATMs ( haha like, really I had never heard about it), Hmm actually the point is how they were operating anyway anything is possible in the underworld. People are not interested in the direction ethically or morally it is wrong or right they just need the results and until the results are in their favor they don't give a shit about how is it affecting the community.
Well, I think governments can be our good buddies if they really want to because the system we believe can bring transparency if they really want transparency they can be our best buddies but seems like they just hate this terminology whether it's a developed country or under development country. Everyone likes easy money the only fact including you and me.
I read this news today and i thought why UK wanted to shut down these atms but I didn't know they were talking about illegal ones. Well, if they are going to shut down illegals ones then i am in favor of the Government. Because this is right thing to do.
But i also have idea of how UK governments wants to control everything even if they have started to promote BTC (according to last week news). But still they are shutting down BTC ATMs doesn't make sense. Or maybe these ATMs were used for money laundering or anything illegal that's why they are making some bold moves.
AFAIK the number of ATMs are around 26. Well according to news 6 ATMs are still under investigation as they started investigation on 32 ATMs from the start of 2023 and till now they are able to investigate only 26. Well, i think they do not hate crypto that much.
But i also have idea of how UK governments wants to control everything even if they have started to promote BTC (according to last week news). But still they are shutting down BTC ATMs doesn't make sense. Or maybe these ATMs were used for money laundering or anything illegal that's why they are making some bold moves.
AFAIK the number of ATMs are around 26. Well according to news 6 ATMs are still under investigation as they started investigation on 32 ATMs from the start of 2023 and till now they are able to investigate only 26. Well, i think they do not hate crypto that much.
Quote
The U.K.’s Financial Conduct Authority (FCA) is proceeding with efforts to shut down all bitcoin ATMs “illegally operating” in the country. After more inspections in the past couple of months, the watchdog vowed to continue to take action against operators of unregistered crypto teller machines.
https://news.bitcoin.com/uk-regulator-continues-crackdown-on-crypto-atms-checks-18-new-sites/
https://news.bitcoin.com/uk-regulator-continues-crackdown-on-crypto-atms-checks-18-new-sites/
These are the people that give bitcoin a bad name. I know there will always be bad actors no matter what but I hate that they there people who are bent on doing the wrong thing knowing consciously that it is wrong. I know that the government may not be our best buddies when it comes to crypto and bitcoin in particular but then laws are meant to be obeyed so that the citizenry can be protected.
Anyone who doesn't want to follow the laws to register their crypto ATM shouldn't operate at all. While I am happy that there is a crackdown on these illegal ATMs my concern is that it may be misapplied and affect legitimate businesses who operate crypto ATM that have complied and gone ahead to register them. Do you think this would happen? I know that even if this happens it may not affect bitcoin or its price but then having crypto ATMS goes a long way in contributing to both visibility and how accessible bitcoin is although I know that their absence do not affect bitcoins value. But seeing it around the corner promotes awareness and adoption, and could motivate individuals to engage with it leading to bitcoin's growth and acceptance.
What do you think?
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