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Bitcoin ATM Compliance Varies Widely from Firm to Firm: Sources

By Daniel Bethencourt

Bitcoin ATM operators are using divergent approaches to combat money laundering, leaving some vulnerable to structured deposits of illicit proceeds despite unprecedented attention from law enforcement, attorneys and compliance officers told ACAMS moneylaundering.com. The global total of these specialized ATMs, which allow users to buy bitcoins with cash or credit cards, has more than quadrupled from 2,000 in January 2018 to almost 9,000 as of this month, and more than two-thirds of them operate from the United States, according to Coin ATM Radar, a website that tracks the sector's growth. More volume has brought more transactions and new risks, according...

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