US DOJ seizes unlicensed Bitcoin ATM machines linked to money laundering
Kais Mohammad, admitted to operating an unlicensed bitcoin ATM network that “laundered millions of dollars of bitcoin and cash for criminals’ benefit.”
The 39-year-old owned and operated an unlicensed bitcoin money service business called Herocoin where he offered to exchange bitcoin for cash, charging commissions of up to 25%, the DOJ detailed.
He advertised his exchange business online using the moniker “Superman29,” but serving clients throughout Southern California. Typically, he met clients at a public location and exchanged bitcoin for them of up to $25,000 without inquiring about the source of their funds.
BTM (Bitcoin Teller Machines) a good way. Its not money laundering. Its a good thing to make the world a better place where people have to gain accessing their own money. Its expansive of course - but freedom has its price. So watch this from 2 point of views not only ML ! Full article here
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