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FCA Crackdown: UK Crypto ATM Operator Charged with Fraud

BitDegree
Summary
Nutrition label

63% Informative

Olumide Osunkoya has pleaded guilty to charges of money laundering related to his cryptocurrency ATM business.

Osunkoy had been running 11 ATMs in local convenience shops across the UK without the required approval from the Financial Conduct Authority .

As of now, no crypto ATMs are legally operational in the UK after the FCA ordered their shutdown in March 2022 .

VR Score

39

Informative language

24

Neutral language

62

Article tone

formal

Language

English

Language complexity

59

Offensive language

not offensive

Hate speech

not hateful

Attention-grabbing headline

not detected

Known propaganda techniques

not detected

Time-value

short-lived

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no affiliate links