The UK's financial regulator has charged a man with illegally operating a cryptocurrency ATM, involving £2.6 million in transactions

ChainCatcher news, according to the Financial Times, the UK's Financial Conduct Authority (FCA) announced on September 10 that it has charged 45-year-old London resident Olumide Osunkoya with illegally operating multiple cryptocurrency ATMs that are not registered with the regulatory agency. The FCA revealed that the ATMs operated by Osunkoya processed £2.6 million worth of cryptocurrency transactions between December 2021 and September 2023, with these ATMs located in multiple sites.

The FCA stated that Osunkoya was a director of Gidiplus Ltd, whose registration application was rejected by the regulatory agency in 2021. Subsequently, Osunkoya began conducting related activities independently.