🇬🇧 The UK financial watchdog is shutting down an illegal network of crypto ATMs.
The UK Financial Conduct Authority (FCA) has made headlines by filing its first charges against an individual operating illegal cryptocurrency ATMs. 🚫🏧
Olumide Osunkoya, 45, ran a network of these unregistered machines, processing a staggering £2.6 million in digital assets from late 2021 to September 2023.
Osunkoya faces multiple charges under the Money Laundering Regulations and the Proceeds of Crime Act, including the use of fake documents and possession of criminal property. 🧐
This action is part of the FCA's crackdown on unauthorized crypto ATMs, which has already led to the shutdown of 26 machines across the UK. 🤷
In the first half of 2024, stablecoins facilitated transactions totaling $2.6 trillion. 💵
Visa and Castle Island Ventures project that by the end of the year, this volume could soar to $5.28 trillion.
Stablecoins are predominantly utilized for cross-border payments, remittances, payroll, and trading, especially in emerging markets like Nigeria and Brazil.
📊 Key Stats:
▪️47% use stablecoins for savings
▪️43% for better currency conversion
▪️39% for earning yields
57% of users have increased their stablecoin use over the past year, and 72% expect this trend to continue. 🌐💸
PS: You can read my other related crypto post below
1.Bitcoin death cross appear is a golden cross next
3.Satoshi nakamato identity revealed
4.VITALIK buterin donate half a million dollars to animal welfare fund
7.telegram founder Pavel Durov has been arrested in France
8.Bitcoin upward trend unveiled
9.famous people supporting durov
10.dogs airdrop token takes the crypto world by storm
11.96 hours detention of pavel durov end
13.Donald trump released his fourth nft
14.will history repeat itself again about the Month of September
15.four countries that may crash Bitcoin price in September
16.leading countries in terms of cryptocurrency adoption
17.Bitcoin probability over the next 50-100 fays
18.you won't believe what happened to BZ over BINANCE
19.volatility
21.Pavel Durov breaks silence after arrest
22.major crypto events this week
23.new android malware private keys scam
25.durov received$45,000 in donation
Watch the video short below