🔁Mario Nawfal:
🇬🇧 UK JAILS MAN FOR ILLEGAL CRYPTO ATMS IN FIRST-EVER CASE
A UK court sentenced Olumide Osunkoya to four years in prison for running an unlicensed network of cryptocurrency ATMs—marking the country’s first criminal conviction for illegal crypto operations.
Between 2021 and 2022, Osunkoya’s machines processed £2.5 million ($3.1M) in transactions across 28 locations.
The Financial Conduct Authority said he went to “great lengths” to hide his identity and failed to prevent money laundering.
The UK has since shut down all crypto ATMs, with the number dropping to zero in 2024.
Source: Insider Paper
https://x.com/MarioNawfal/...
🇬🇧 UK JAILS MAN FOR ILLEGAL CRYPTO ATMS IN FIRST-EVER CASE
A UK court sentenced Olumide Osunkoya to four years in prison for running an unlicensed network of cryptocurrency ATMs—marking the country’s first criminal conviction for illegal crypto operations.
Between 2021 and 2022, Osunkoya’s machines processed £2.5 million ($3.1M) in transactions across 28 locations.
The Financial Conduct Authority said he went to “great lengths” to hide his identity and failed to prevent money laundering.
The UK has since shut down all crypto ATMs, with the number dropping to zero in 2024.
Source: Insider Paper
https://x.com/MarioNawfal/...
1 month ago
