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Osunkoya’s sentence comes after a 2023 FCA blitz with local police agencies across the country to weed out illegal crypto ATMs.
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“Your actions were deliberate and carefully planned,” Judge Perrins added. “It cannot be said that it is a mere regulatory breach.”
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“Your decision to continue to operate illegally was an act of deliberate and calculated defiance to the regulator,” said Judge Gregory Perrins in sentencing the 46-year-old Osunkoya at Southwark Crown Court in London.
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Osunkoya was also sentenced for forgery for creating four bank statements to pass a source of wealth check at a crypto exchange, using a fake identity to spin up a company under an alias and possessing criminal property — 19,540 British pounds ($24,567) in cash obtained by running the illicit ATMs.
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In cases where customers submitted driving licenses for verification, the FIU found nearly 190,000 instances where checks were conducted solely based on personal information without verifying the authenticity of the card using the encrypted serial number found on South Korean driving licenses. During customer re-verification, the probe identified over 9 million cases where no official identification documents were collected.
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Meanwhile, blockchain analytics firm Elliptic has flagged 11,084 cryptocurrency wallet addresses suspected of being linked to the Bybit exploit. That list is expected to grow as investigations continue.
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Bitcoin’s price action is raising concerns about possible market manipulation as the cryptocurrency continues trading in a tight range despite billions of dollars in institutional inflows.
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https://warpcast.com/jodie7jen/0x101d1df8
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After the token’s collapse, Milei requested the Anti-Corruption Office to investigate all government members, including himself, for potential misconduct, with the findings to be shared with the courts, Argentina’s presidential office said in a statement.
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Argentina’s presidential office didn’t immediately respond to a request for comment.
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In a Jan. 20 notice from the White House, President Donald Trump said Uyeda would replace outgoing SEC Chair Gary Gensler in an acting capacity until the US Senate could confirm one of his nominees. Uyeda, a Republican, has served at the SEC since 2022 after being nominated by former US President Joe Biden.
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US Securities and Exchange Commission member Mark Uyeda will be acting chair of the financial regulator as of Jan. 20 following an announcement from the Trump administration.
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Known for his “anarcho-capitalist” views, Milei has gained frequent praise from high-profile figures like billionaire Elon Musk, who will lead the newly created Department of Government Efficiency with a mission to cut federal programs, slash regulations, and streamline government operations.
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Javier Milei was the first foreign leader to meet with Donald Trump after the election, flying from Buenos Aires to the president-elect’s Mar-a-Lago club after the election.
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Notably, Tornado Cash developer Alex Pertsev was found guilty of money laundering by Dutch judges at the s-Hertogenbosch Court of Appeal on May 14. He was sentenced to five years and four months for allegedly laundering $1.2 billion worth of illicit funds despite Tornado Cash being a non-custodial cryptocurrency mixer.
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The decision raises significant concerns for blockchain software developers, considering that other code developers have already been sanctioned for how their software is being used.
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The IRS’ rulemaking puts “unlawful compliance burgers on software developers” building front-end trading infrastructure, wrote the Blockchain Association.
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Under the new rules, if a decentralized finance (DeFi) platform facilitates the exchange or sale of digital assets — even through smart contracts — and exercises sufficient control or influence over the transaction process, it could meet the definition of a broker.
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“We stand with our nation’s innovators and will continue working to ensure the future of crypto – and DeFi – is here in the United States,” added Smith.
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In response to the new rules, the Blockchain Association and the Texas Blockchain Council filed a lawsuit against the IRS, announced Kristin Smith, the CEO of the Blockchain Association, in a Dec. 28 X post:
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