Cryptocurrency Q&A
How are Bitcoin ATMs legal?
How are Bitcoin ATMs legal?
CryptoNinja
Thu Nov 28 2024
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6 answers
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I'm curious about the legality of Bitcoin ATMs. How is it possible that these machines, which allow people to buy and sell cryptocurrencies, are operating legally in various locations?
6 answers
PearlWhisper
Sat Nov 30 2024
Bitcoin ATM operators within the United States are required to undergo a registration process with the Financial Crimes Enforcement Network (FinCEN).
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Davide
Fri Nov 29 2024
This registration ensures that the operators adhere to the strict guidelines outlined in the Bank Secrecy Act (BSA).
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DavidJohnson
Fri Nov 29 2024
One such piece of information that may be requested is a mobile phone number. This number is used to send a text verification code to the user.
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SumoHonorable
Fri Nov 29 2024
The BSA includes Anti-Money Laundering laws that are designed to prevent illegal financial activities.
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KatanaSwordsmanship
Fri Nov 29 2024
In accordance with these regulations, Bitcoin ATM operators must comply with various measures to maintain security.
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