A dealer has pleaded not responsible to working an unlawful cryptocurrency ATM enterprise after allegedly being ordered to halt the commerce.
Habibur Rahman, of East Ham, London, was charged with operating the machine with out registration from the Monetary Conduct Authority after cops searched a store in Chatham on 28 April 2023.
A Kent Police spokesperson stated a variety of crypto ATMs had been seized, together with one on public show, and the 37-year-old, who’s believed to be the primary particular person within the UK to be charged with the offence, was arrested on the identical day.
Mr Rahman additionally allegedly laundered £300,000 of felony money by changing it into cryptocurrency, the power added.
He appeared at Medway Magistrates’ Courtroom the place he pleaded not responsible to operating an unregulated cryptocurrency ATM enterprise and illegally changing £300,000 in money to cryptocurrency between 1 April and 16 June 2022.
He was granted bail and the case was transferred to Maidstone Crown Courtroom the place the subsequent listening to shall be held on 7 November.
Crypto ATMs are unlawful machines the place you should buy and promote cryptocurrencies, which is digital cash, reminiscent of bitcoin or Ethereum, in alternate for money.
