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.
For me?i don't care if this is illegal or legal what is important here is the service he gave for the bitcoin users,He only fool the government but this helps the community in a good manner.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.
and also he helps other people to learn about what bitcoin is and Good or bad publicity is still publicity so we all here benefits from His action right?
Reminds me about the thread of a guy caught mining Bitcoin secretly at his place of work.
In this story, Mohammad have to pay a price of going to jail just because of trying to create mass adoption. They should be the one here to be blamed for being unaware about such operation in the first place.
Yups this leak is authorities mistake because the man did the business inside public and private properties so they must be aware for the first place.In this story, Mohammad have to pay a price of going to jail just because of trying to create mass adoption. They should be the one here to be blamed for being unaware about such operation in the first place.