AUSTRAC is scrutinizing Australian crypto ATMs for legal compliance, focusing on combating money laundering and crypto-related crimes.
Australia has launched a new task force to target cryptocurrency ATMs as part of its anti-money laundering efforts. Headed by AUSTRAC, the initiative aims to monitor and regulate the operations of crypto ATMs to prevent their misuse in financial crimes.
Australia's financial intelligence agency, AUSTRAC, is set to increase its scrutiny of digital currency exchanges and crypto ATMs, introducing new guidelines by 2025.
The global crypto ATM market, valued at $87.35 million, is projected to reach $2.6 billion by 2032. This growth indicates a significant increase in the use and acceptance of cryptocurrency ATMs globally.
Habibur Rahman from East Ham denies charges related to operating an unregistered crypto ATM at his shop without FCA approval.
Olumide Osunkoya admits to running illegal crypto ATMs in the UK, with the FCA warning that such activities fund criminal behavior.
UK crypto ATM operator Olumide Osunkoy pleads guilty to fraud and money laundering charges, facing up to 26 years in jail if convicted of all charges.
Olumide Osunkoya pleads guilty in the UK to operating illegal crypto ATMs, fabricating documents, and possessing criminal property. This landmark case underscores FCA's warning about crypto ATMs aiding criminal activities.
The UK's FCA has charged Olumide Osunkoya for operating unregistered crypto ATMs, marking the first such prosecution. The ATMs processed £2.6 million without registration, violating anti-money laundering laws.
The UK's FCA has charged Olumide Osunkoya for operating illegal cryptocurrency ATMs processing £2.6 million in transactions without registration.
The U.K. FCA has charged an individual for operating illegal crypto ATMs, processing £2.6 million in transactions, highlighting regulatory challenges.
UK regulator charges Olumide Osunkoya with running illegal crypto ATMs processing £2.6 million in transactions.
The FCA charged Olumide Osunkoya, 45, for operating multiple illegal crypto ATMs in the UK.
Crypto ATMs in Australia have increased by 17 times in the last two years, raising concerns among law enforcement about potential misuse.
Australia has seen a surge in crypto ATMs from 67 to nearly 1,200 in two years, becoming the third-largest market globally after the US and Canada.
Australia has seen a significant increase in crypto ATMs, with a growth of 1,641% since August 2022.
Australia's crypto ATMs have surged from 67 to nearly 1200 in just two years, making it the third-largest market globally.
Since 2019, the cash-to-crypto industry, led by crypto ATMs, has processed at least $160 million in illicit volumes, according to TRM Labs.
German regulator BaFin seized 13 crypto ATMs operating without permission, citing money laundering risks.
Crypto ATMs increased by 17.8% to 38,279 globally in the past year, nearing the high of 39,541 set in December 2022.
The US and Canada witness a reduction in crypto ATMs for the first time in nine months, signaling a possible shift in the accessibility of cryptocurrencies.
