PANews reported on September 30 that according to CoinDesk, 45-year-old Olumide Osunkoya has pleaded guilty to operating an illegal cryptocurrency ATM network in the UK, the first conviction case in the UK involving cryptocurrency ATM operations. Osunkoya pleaded guilty to five counts at Westminster Magistrates' Court and was charged with operating multiple cryptocurrency ATMs without registration, involving transactions of approximately £2.6 million (US$3.4 million). The court said these ATMs could be used for money laundering or tax evasion. The FCA (Financial Conduct Authority) has stepped up its crackdown on illegal cryptocurrency ATMs and plans to sentence them at Southwark Crown Court, but the date has not yet been determined.
