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A small Bitcoin ATM provider whose director had completed just one-and-a-half hours of anti-money laundering training and misrepresented the nature of his business in corporate filings has become the first U.K. cryptocurrency firm to lose a licensing appeal. The Upper Tribunal in London, which reviews challenges to the Financial Conduct Authority's decisions, backed the FCA's earlier refusal to register the provider, Gidiplus Limited, after the regulator identified systemic AML deficiencies at the firm and found that its co-owner and director, Olumide Osunkoya, fell short of "fit and proper" standards. In his Feb. 16 ruling, Judge Timothy Herrington raised particular concern...