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
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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.
I Don't tolerate illegal works because for me it is against the rule of government and also God.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
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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.
But what this man did?is really amazing as he wanted bitcoin to be adopted(and of course he wanted to gain much profit)
Doing such action is really not a good idea but this is for the benefits of the whole community here in crypto.
But anyway this must be given action by the government because Rule is rule.
But congrats to HIm he made a good job for crypto people lol.