UK FCA Charges London Resident for Operating Unregistered Crypto ATMs

According to Foresight News, the UK Financial Conduct Authority (FCA) has charged Olumide Osunkoya, a 45-year-old resident of London, for operating multiple cryptocurrency ATMs without proper registration. Between December 29, 2021, and September 8, 2023, these ATMs processed £2.6 million in cryptocurrency transactions across various locations without the necessary FCA registration. The FCA's announcement highlighted that there are no legally operating cryptocurrency ATM operators in the UK. Osunkoya is scheduled to appear at Westminster Magistrates' Court on September 30, 2024.