July 9, 2025

warn

Crypto

Anti-money laundering crackdown: Cryptocurrency ATMs used to ‘launder cash from drug sales’ to be banned

“Criminals can use these ATMs to purchase cryptocurrency and transfer that cryptocurrency within minutes to offshore criminals to fund drug imports or to make payments associated with scams.” The independent advisory group noted these ATMs were made illegal in the United Kingdom in 2022 and recommended virtual current ATMs be banned “as a critical step

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