A man admits to illegally operating a CryptocurrencyATM network in the UK

ATM0.90%
CROWN6.87%
PANews reported on October 1st that 45-year-old Olumide Osunkoya has admitted to illegally operating a network of CryptocurrencyATMs in the UK, making it the first conviction case involving CryptocurrencyATM operation in the country. Osunkoya pleaded guilty to five charges at Westminster Magistrates' Court, accused of operating multiple CryptocurrencyATMs without registration, involving approximately £2.6 million (US$3.4 million) in transactions. The court stated that these ATMs may be used for Money Laundering or tax evasion. The FCA (Financial Conduct Authority) has intensified its crackdown on illegal CryptocurrencyATMs and plans to sentence him at Southwark Crown Court, with a date yet to be determined.
Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.
Comment
0/400
No comments