News
Representative Erin Koegel proposed a total ban on crypto ATMs in Minnesota, building on a 2024 state law that imposed restrictions on kiosk operators.
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ATM News
ATM (automated teller machine) is an electronic device that is used by financial services to provide various operations for their customers. The most commonly used ATM transactions are cash deposits and withdrawals, transferring funds and obtaining account information. Some current ATMs are also capable of performing such operations as selling train and lottery tickets, offering an opportunity for charitable donations and retailing concert tickets. The outburst of the popularity of cryptocurrency has also influenced ATMs and led to the development of cryptocurrency ATMs. The most popular of them is, of course, Bitcoin ATMs that allow people to exchange Bitcoin for cash, but one can also find Litecoin and Ethereum ATMs. However, crypto ATMs are not an ATM in the traditional sense, as it is not connected to a bank account, but to the Bitcoin exchange itself.
- News
Bitcoin Depot is moving to require ID for all transactions as regulators have cracked down on crypto ATM operators over scams and money laundering concerns.
2377 - News
Crypto Dispensers is weighing a $100 million sale as its CEO faces federal accusations of running a multimillion-dollar money laundering scheme.
7718 - News
Kenyan regulators say no crypto firms are licensed under the new VASP Act and warn that providers claiming approval are doing so illegally.
3821 - News
The biggest Bitcoin ATM operator in North America is expanding to Hong Kong, citing growing global demand for cash-to-crypto access.
3229 - News
The United Nations is preparing to launch a blockchain academy for governments and a UN-led blockchain advisory group to assist countries in adopting the technology.
3553 - News
Minister Tony Burke said the government won’t be pushing for an outright ban on crypto ATMs, but he wants to provide AUSTRAC with the power to implement one.
5929 - News
Responding to a report about crypto ATM fraud in Wyoming, Senator Cynthia Lummis said the chamber’s market structure bill could address specific risks.
3201 - News
The attorney general for the District of Columbia, Brian Schwalb, alleges that Athena Bitcoin charged undisclosed fees and had insufficient safeguards to stop fraud and scams.
2801 - Analysis
Bitcoin is sluggish at the end of the month, but that didn’t stop Strategy and Metaplanet from buying over 5,000 BTC in August.
6346 - Opinion
Blanket crypto ATM bans punish legitimate users while fraudsters adapt. Smart warning systems at kiosks could intercept scams in progress.
1699 - News
Illinois enacts first-in-Midwest crypto consumer protections, requiring exchange oversight and capping ATM fees at 18%.
7204 - Analysis
Crypto ATMs are facing increasing pressure from regulators, including bans at the municipal level.
11130 - News
Senators in the state of Wisconsin have filed an identical bill to accompany earlier legislation filed in the state’s lower house that aims to closely regulate crypto ATMs.
10032 - Explained
New Zealand’s financial watchdog outlawed crypto ATMs, citing regulatory gaps and AML concerns and raising questions about retail access and compliance.