Founder of Bitcoin (BTC) ATM indicted on $10 million money-laundering charges; first hearing next year
Summary
- U.S. federal prosecutors have indicted the founder of a Bitcoin ATM operator on $10 million money-laundering charges.
- Prosecutors say the founder attempted to evade anti-money laundering (AML) rules.
- The case highlights increased regulatory scrutiny of Bitcoin ATMs and its repercussions for the industry.
U.S. federal prosecutors have indicted the founder of an operator of Bitcoin (BTC) ATMs on charges of large-scale illegal money laundering.
On the 18th (local time), crypto-focused media Decrypt reported that Chicago federal prosecutors said Virtual Assets LLC founder Firas Isa was charged with laundering at least $10 million in illicit funds.
Isa has pleaded not guilty to all charges, and the first hearing is scheduled for January 30, 2026.
Prosecutors allege Isa repeatedly exchanged cash and digital assets of unclear origin through a Bitcoin ATM network to evade anti-money laundering (AML) rules.
The case is expected to have repercussions across the industry amid a trend of increased regulatory scrutiny of Bitcoin ATMs in the United States.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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