UK Shop Owner Charged with Illegal Crypto ATM

Habibur Rahman, a 37-year-old shop owner from East Ham, London, has become the first person in the UK to be charged with operating an unregistered cryptocurrency ATM and laundering £300,000 ($395,000) through cryptocurrency conversion. His arrest followed a police raid on his electronics shop in Chatham, Kent, where multiple crypto ATMs were seized. This marks a significant step in the UK's crackdown on illegal digital asset activities, particularly following the Financial Conduct Authority's (FCA) 2022 ban on crypto ATMs. The FCA has warned that these machines can be used for money laundering and other illegal activities. Rahman is scheduled to appear in court on October 10. The case is part of a broader global effort to regulate the cash-to-crypto industry, which has processed at least $160 million in illicit volumes since 2019.