UK Man Charged for Operating Illegal Crypto ATM Network

Olumide Osunkoya is the first individual in the UK to face charges for running an unlicensed cryptocurrency ATM network, processing millions in transactions.

• Olumide Osunkoya faces multiple criminal charges for running an unlicensed crypto ATM network in the UK.
• The network processed £2.6 million ($3.4 million) in crypto transactions between December 2021 and September 2023.
• Charges include violations of money laundering regulations and forgery, as well as possession of criminal property.
• No crypto ATMs are legally operating in the UK after the FCA's crackdown on unregistered machines.
• Osunkoya is set to appear in court on September 30, with another operator, Habibur Rahman, awaiting trial.

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