The authorities of Spanish has reportedly observed the bitcoin ATMs & AML provision of Europe after it was being used by the criminals to fund drug traffickers. Previously, the Spanish police have busted a drug-trafficking gang which was using BTC ATMs to transfer estimated $10 million to a various wallet from multiple countries and lead to a point that the technology should be monitored over illicit acts committed by criminals.
The number of Bitcoin ATMs are increasing at a high pace, at present 2019 there are around 5000 Bitcoin ATM which was started way back in 2013 in Vancouver. A bitcoin ATM firm LibertyX, alone operates over 1,000 ATMs in the U.S. Brandon Mintz of Bitcoin Depot said, “It’s simple. Run down to your 24/7 store with cash, sign up and transact within a minute, send the money down to a receiver and they will get it 20 minutes later,”
A Boston based LibertyX, the firm that launched America’s first bitcoin ATM has partnered with independent ATM operator DesertATM which will allow 90 of its its Genmega ATMs to operate bitcoin thus allowing users to use their debit cards to purchase Bitcoin at any BTC-enabled Genmega machine. It is spread across 43 states and works with a limit of $3,000 of Bitcoin at a time.
A Bitcoin ATM has been robbed from a shop in Northampton, U.K City. Three men with face coverings and gloves, one wielding a curved machete, while the other one smashed the Bitcoin ATM off the shop wall with a sledgehammer. It’s still unclear whether this is a one way ATM where you can only buy bitcoin, or two-ways where you can sell BTC for cash.
Toronto police issued a statement seeking public help help to locate four men related to numerous fraudulent transactions made at Bitcoin ATMs that specifically target one Canadian Bitcoin company. They use “double-spending” which involves cancelling a transaction before it’s had chance to be confirmed and keeping the withdrawn funds, to steal about $150,000 in 10 days.
Botswana based, Express Minds LTD, has come up with their own Bitcoin Automated Teller Machine (BATMs) in the country. Its Director, Goabaone Brose Watlala explained, “We have been working tirelessly to make it easier for Batswana (people of Botswana) to buy cryptocurrencies and now we are bringing simplicity, convenience and trust to the cryptocurrencies purchasing experience.”
The crypto-friendly regulation imposes by the government of Switzerland have successfully attracted numerous big companies in the cryptocurrency industry. Recently, the oldest Bitcoin ATM manufacturer, Lamassu has revealed that they will transfer it headquarters of operation to Switzerland. Crypto Valley is alive and kicking and we’re excited to be in an area so rich in crypto and blockchain events.
Argentina has recently installed seven new Bitcoin ATMs (BATMs) and more to come in the country. The Director of Innovation at Athena Bitcoin, Santiago Molins commented, “The idea is to put in the first and second week of January the last ones that we have left in the laboratory, which would be two or three more.”
BTC.com.au, a start-up based in Sydney, to accelerate the cryptocurrency adoption and to make it accessible for the citizen in the country to use by introducing a cryptocurrency debit card that can be used at any business or ATM in Australia. This card can be acquired free of charge.
The second Bitcoin ATM in Frankfurt, German, has been installed to cater needs of the local cryptocurrency enthusiasts. Currently, the number of bitcoin ATM installed worldwide has reached to 4,000 machines and is expected to increase in the next year as the industry is developing rapidly with the proactive steps taken by Coinsource which plans to expand its business for mainstream adoption.