Unregistered Crypto ATM Operator Faces First FCA Charges in the UK
The UK’s Financial Conduct Authority (FCA) has charged Olumide Osunkoya for operating unregistered crypto ATMs. Marking the first prosecution of its kind in the UK.
Osunkoya is accused of running a network of crypto ATMs that processed £2.6 million in transactions without FCA registration. Violating anti-money laundering regulations. He faces additional charges of forgery and possession of criminal property.
This action follows a joint effort by the FCA and law enforcement to tackle illegal crypto ATM operations, with Osunkoya set to appear in court on September 30, 2024.
Clever Robot News Desk 11st September 2024
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