The Financial Conduct Authority (FCA) in the United Kingdom has filed criminal charges against Olumide Osunkoya for managing a network of cryptocurrency ATMs. Osunkoya is the first individual in the UK to face charges related to operating a crypto ATM network. The FCA alleges that Osunkoya's ATMs facilitated £2.6 million ($3.4 million) in crypto transactions from December 29, 2021, to September 8, 2023. He is accused of breaching the Money Laundering Regulations and the Forgery and Counterfeiting Act. Osunkoya, scheduled to appear in court on September 30, is the director of Gidiplus Limited, a company specializing in crypto ATM services. Despite Gidiplus' unsuccessful attempt to register as a crypto asset exchange provider, the company's operations remain unauthorized. The FCA crackdown on illegal crypto ATMs in the UK led to the closure of all unregistered machines, leaving no legally operating crypto ATMs in the country. Read more AI-generated news on: https://app.chaingpt.org/news