Quote from: electronicash on July 24, 2020, 08:21:01 PM

Quote from: Asuspawer09 on July 24, 2020, 07:53:59 PM

Quote from: bitcoinst on July 23, 2020, 04:01:31 PM

A man in California has agreed to plead guilty to operating an illegal bitcoin ATM network that exchanged up to $25 million, according to a U.S. Department of Justice announcement on Wednesday.

Kais Mohammad, 36, who goes by the digital moniker “Superman29,” was charged in the United States District Court on three counts: for operating an unlicensed money exchange business, for money laundering and for not being able to maintain an effective anti-money laundering program.

He purchased Bitcoin ATM-type kiosks which were placed in malls, gas stations and convenience stores in several California counties. These kiosks allowed customers to buy and sell Bitcoin in exchange for cash. Mohammad supplied the machines with cash that customers could withdraw and maintained the server software to keep the kiosks running

https://www.theblockcrypto.com/linked/72697/doj-california-bitcoin-atm

----

We live in amazing times. To be honest, this is the first time I've heard about illegal Bitcoin ATMs. Now Muhammad can get 30 years in prison for illegal mass adoption.

I wonder what will happen to ATMs and what is their number, I hope the state will appropriate it and allow people to use them with reduced commissions. Grin

I guess you could just put a bitcoin ATM at anyplace Grin

, and sure no one is going to notice if it is a legitimate ATM or a licensed one.

Until someone from the government probably inspects the ATM and find out that it is not registered. Might be a clever way to do some money laundering and scam some bitcoin from the community.

its a shining gold for authorities these days since they already know how much money there is in BTC. it would be noticed and it gets unlucky if the undercover proves the business is illegal. its fascinating how much he had achieved though with no legal documents to his business.

don't you think his business could turn into legal if the guy has a christian name like JAMES than Mohammad?

I think even here in my countries something like this could easily be executed.

You could just put this fake ATM at some small businesses and probably you could just pay them a small fees to put ATM near in small business.

Even some legitmate ATM could easily be find anywhere so nobody really is going to doubt it if it is registered or not.