Watchdog charges first person with operating illegal crypto ATM network in UK
For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Olumide Osunkoya, 45, is due to appear at Westminster Magistrates’ Court on September 30 on charges of running multiple crypto ATMs without registering them with the regulator. If you're illegally operating a crypto ATM, we will stop you Therese Chambers, FCA They are legal in the US, where there are thousands of machines offering withdrawals in scores of different crypto tokens, according to tracking website Coin ATM Radar. Criminals can exploit crypto ATMs to launder money globally Therese Chambers, FCA Therese Chambers, joint executive director of enforcement and market oversight at the FCA, said: “Our message today is clear. Criminals can exploit crypto ATMs to launder money globally.” The charges come amid renewed concerns around the use of services such as crypto ATMs following a resurgence in the value of tokens such as bitcoin.
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