Two men have been arrested following the seizure of five ATMs set up to sell its users cryptocurrency illegally.

Police issued a warrant to search a shop in Chatham High Street on April 28 where one of the seized crypto-machines was on display with three more in storage.

This type of ATM offers the user the option to purchase multiple forms of online currency, usually in the form of bitcoin.

Any machine offering cryptoassets must be registered with the Financial Conduct Authority (FCA) to ensure they comply with money laundering regulations.

Currently no ATMs are, meaning all are illegal.

A 21-year-old man from Gravesend and a 36-year-old man from East Ham, London, were arrested the same morning on suspicion of money laundering and later released on bail pending inquiries.

Further searches were carried out at properties linked to both men, with a fifth machine being seized.

The FCA has previously warned consumers that the lack of regulation means crypto products are high risk, and that they should be prepared to lose all their money if they invest in them.