News

A Bitcoin ATM operator in Los Angeles has pleaded guilty to laundering money, running an unlicensed money services business and violating anti-money laundering rules in what is likely the first federal prosecution of a cryptocurrency kiosk, the Justice Department announced Friday. From May 2015 until October 2017, Kunal Kalra, 25, exchanged as much as $25 million in cash for bitcoins, dealing only with customers willing to engage in transfers of more than $5,000. Prosecutors did not indicate how much of the sum was illicit, but said some of Kalra's customers sold narcotics on the dark web. Unknown to Kalra, those...