UK FCA First Charges Individual for Operating Illegal Crypto ATM Networks

The UK Financial Conduct Authority (FCA) has charged Olumide Osunkoya, 45, of London, with unlawfully operating multiple cryptocurrency ATMs without FCA registration, and processing £2.6 million in cryptocurrency transactions between December 29, 2021, and September 8, 2023, at multiple locations without the required registration. without the required registration. The notice states that there are no legal cryptocurrency ATM operators in the UK. The defendants are due to appear in Westminster Magistrates' Court on September 30, 2024.