{"id":138233,"date":"2024-10-01T11:30:31","date_gmt":"2024-10-01T08:30:31","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=138233"},"modified":"2024-10-01T09:32:18","modified_gmt":"2024-10-01T06:32:18","slug":"u-k-with-first-ever-conviction-for-operating-illegal-crypto-atm-network","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/u-k-with-first-ever-conviction-for-operating-illegal-crypto-atm-network\/","title":{"rendered":"U.K. With First-Ever Conviction for Operating Illegal Crypto ATM Network"},"content":{"rendered":"<p>During a court session at Westminster Magistrates\u2019 Court, Osunkoya pleaded guilty to five charges.<\/p>\n<p>The FCA had previously charged him for operating crypto ATMs that facilitated \u00a32.6 million (approximately $3.4 million) in transactions across multiple locations without the necessary registration.<\/p>\n<p>According to the <strong><a href=\"https:\/\/www.fca.org.uk\/news\/press-releases\/olumide-osunkoya-pleads-guilty-illegally-operating-crypto-atm-network#:~:text=Mr%20Olumide%20Osunkoya%20pleaded%20guilty,the%20operation%20of%20crypto%20ATMs\">FCA<\/a><\/strong>, evidence presented in court indicated that individuals potentially engaged in money laundering or tax evasion were using Osunkoya&#8217;s machines.<\/p>\n<style>\n    .dark-mode .read-more {background-color: #343a40 !important;}\n<\/style>\n<div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1 d-none d-md-block\">READ MORE:<\/h5>\n    <a class=\"article row\" href=\"https:\/\/cryptodnes.bg\/en\/dutch-financial-regulator-warns-of-crypto-pump-and-dump-risks-ahead-of-new-eu-rules\/\" title=\"Dutch Financial Regulator Warns of Crypto Pump-and-Dump Risks Ahead of New EU Rules\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img decoding=\"async\" class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/07\/Netherlands-crypto-reguation-240x170.jpg\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">Dutch Financial Regulator Warns of Crypto Pump-and-Dump Risks Ahead of New EU Rules<\/h4>           \n            \n        <\/div>        \n    <\/a>\n<\/div>\n<p>A sentencing date will be confirmed by Southwark Crown Court.<\/p>\n<p>The FCA has been actively targeting illegal crypto ATMs, conducting raids in Exeter, Nottingham, and Sheffield in May last year, and completing 34 inspections by the end of 2023.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A 45-year-old man, Olumide Osunkoya, has admitted to unlawfully managing a network of cryptocurrency ATMs, making it the first conviction of its kind in the U.K., as announced by the Financial Conduct Authority (FCA) on Monday.<\/p>\n","protected":false},"author":3,"featured_media":34442,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[26],"tags":[],"class_list":["post-138233","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocrime"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>U.K. With First-Ever Conviction for Operating Illegal Crypto ATM Network<\/title>\n<meta name=\"description\" content=\"A 45-year-old man, Olumide Osunkoya, has admitted to unlawfully managing a network of cryptocurrency ATMs, making it the ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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