A computer shop boss has denied running an illegal cryptocurrency ATM business in a landmark court hearing.

Habibur Rahman appeared before magistrates in Medway yesterday (October 10) accused of running the machine without registration from the Financial Conduct Authority.

It comes after police searched the Gadcet shop in Chatham High Street on April 28 of last year where officers say a number of crypto ATMs were seized, including one on public display.

Rahman, 37, was arrested the same day.

He also allegedly laundered £300,000 of criminal cash by converting it into cryptocurrency and was charged on suspicion of running an unregulated cryptocurrency ATM business and illegally converting £300,000 in cash to cryptocurrency between April 1 and June 16 2022.

The trader is believed to be the first person in the UK to be charged on suspicion of operating an illegal cryptocurrency ATM.

Rahman, of East Ham, London denied the allegations against him when he appeared in the dock.

He pleaded not guilty to both charges and the case was sent to Maidstone Crown Court to be dealt with.

Rahman will appear there for a preliminary hearing on November 7. He was granted bail until then.

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.