A man in Los Angeles admitted to participating in the Bitcoin money laundering program

A Los Angeles man has agreed to plead guilty to a $25 million money laundering operation (clients including dark-net drug dealers). On Friday, 25-year-old Kunal Kalra was formally charged and agreed to plead guilty to charges including money laundering and distribution of methamphetamine, which could face life imprisonment. The authorities said that from 2015 to 2017, Kalra operated a company that converted dollars into bitcoins. Kalra also admits that he runs a bitcoin kiosk – essentially an ATM machine – where customers exchange cash for virtual currency without authentication and vice versa.