A trader has pleaded not guilty to operating an illegal cryptocurrency ATM business after allegedly being ordered to halt the trade.

Habibur Rahman, of East Ham, London, was charged with running the machine without registration from the Financial Conduct Authority after police officers searched a shop in Chatham on 28 April 2023.

A Kent Police spokesperson said a number of crypto ATMs were seized, including one on public display, and the 37-year-old, who is believed to be the first person in the UK to be charged with the offence, was arrested on the same day.

Mr Rahman also allegedly laundered £300,000 of criminal cash by converting it into cryptocurrency, the force added.

He appeared at Medway Magistrates’ Court where he pleaded not guilty to running an unregulated cryptocurrency ATM business and illegally converting £300,000 in cash to cryptocurrency between 1 April and 16 June 2022.

He was granted bail and the case was transferred to Maidstone Crown Court where the next hearing will be held on 7 November.

Crypto ATMs are illegal machines where you can buy and sell cryptocurrencies, which is digital money, such as bitcoin or Ethereum, in exchange for cash.