Nick Barnard comments on a key case brought by the Financial Conduct Authority (FCA) in 2024

Partner Nick Barnard,  comments in Law360 on a key case brought by the Financial Conduct Authority (FCA) in 2024. In September, the agency secured the first conviction of its kind for offences relating to operating crypto ATMs without FCA registration.

While the crackdown on crypto ATMs “made for good headlines”, Nick said that the issue was “hardly a priority” for the regulator, given its overall job of overseeing anti-money laundering rules for crypto-assets. “Given the estimated value of crypto-asset activity in the U.K. is measured in hundreds of billions, crypto ATMs should be the least of the FCA’s worries”, he said.

You can read the full article in Law360.