Olumide Osunkoya admitted to illegally operating a cryptocurrency ATM network in the UK

ChainCatcher news, according to a press release from the UK's Financial Conduct Authority (FCA) on Monday, Olumide Osunkoya has admitted to illegally operating a cryptocurrency ATM network, marking the UK's first conviction case involving cryptocurrency ATM operations. At a hearing held at Westminster Magistrates' Court, 45-year-old Olumide Osunkoya pleaded guilty to five charges.

Sentencing for these offenses will take place at Southwark Crown Court, with a specific date to be determined.

Previous news, the UK's Financial Conduct Authority (FCA) announced on September 10 that charges had been brought against 45-year-old London resident Olumide Osunkoya for illegally operating multiple cryptocurrency ATMs that were not registered with the regulatory body.