BlockBeats news, September 10, according to the Financial Times, the UK Financial Conduct Authority (FCA) said on Tuesday that it had accused Olumide Osunkoya, 45, who lives in London, of illegally operating multiple cryptocurrency ATMs that were allegedly not registered with the regulator.

The FCA said that the ATMs operated by Osunkoya processed cryptocurrency transactions worth £2.6 million between December 2021 and September 2023, distributed in multiple locations.

The FCA said that Osunkoya was a director of Gidiplus Ltd and later carried out activities on his own. Gidiplus Ltd's registration application was rejected by the regulator in 2021.

The regulator said Osunkoya faces two charges related to anti-money laundering and counter-terrorist financing regulations, two charges related to false documents “created and used” in connection with his activities, and one charge related to the possession of property “suspected to be the proceeds of crime” from his cryptocurrency ATM business.