FIRST FEDERAL CRIMINAL CASE CHARGING AN UNLICENSED MONEY REMITTING BUSINESS THAT USED A BITCOIN KIOSK

On 27th August, a news release from US Immigration and Customs Enforcement advised that a Los Angeles area man, Kunal Kalra, 25 – aka “Kumar,” “shecklemayne” and “coinman” – has agreed to plead guilty to federal federal narcotics, money laundering charges for running unlicensed Bitcoin exchange and ATM, including owning and operating an unlicensed money transmitting business where he exchanged up to $25 million in cash and virtual currency for individuals, including Darknet drug dealers and other criminals – some of whom used his Bitcoin ATM kiosk.  It is believed to be the first federal criminal case charging an unlicensed money remitting business that used a Bitcoin kiosk.

https://www.ice.gov/news/releases/los-angeles-area-man-agrees-plead-guilty-federal-narcotics-money-laundering-charges

This blog is primarily for my own use, to keep informed and up to date. However, if you would like to say thank you (and perhaps help me get a new, better laptop when I am away…) you can “buy me a coffee” at https://www.buymeacoffee.com/KoIvM842y

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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