• Bitcoin Depot to require ID for all transactions at its crypto ATMs 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. • Cointelegraph in your social feed The biggest Bitcoin ATM operator in the US has begun phasing in a new requirement for users to provide identification for every transaction at its crypto ATMs amid increasing pressure from regulators and lawmakers for operators to curb illicit activity. • Bitcoin Depotsaidon Tuesday that it began the rollout earlier in February across the company’s US network ATMs, with the goal of helping to detect suspicious activity in real time andeliminate misuse by bad actors, such as account sharing, identity theft, and account takeover. • “Continuous verification allows us to detect suspicious activity based on customers, locations, or transaction amount before a transaction is approved,” Bitcoin Depot CEO Scott Buchanan said in a statement. • Bitcoin DepotimplementedID requirements in October, but only for all new users to its service. • Buchanan said that “by requiring identity verification at every transaction, we are taking an additional step to strengthen security, protect customers, and maintain the integrity of our services.” The US is the largest hub for Bitcoin (BTC) ATMs, with Coin ATM Radarlisting31,360 machines in the country, accounting for 78% of the worldwide total.

Article Summaries:

  • Bitcoin Depot, the largest U.S. Bitcoin‑ATM operator, has begun rolling out a new policy that requires users to provide identification for every transaction at its kiosks. The change, launched in February after an initial ID requirement for new users in October, is aimed at real‑time detection of suspicious activity and reducing misuse such as account sharing and theft. The move comes amid growing regulatory scrutiny and state‑level lawsuits-Massachusetts, Maine, and Iowa have sued the company over insufficient safeguards. With 9,019 machines nationwide, the policy reflects the industry’s broader push to curb illicit use of crypto ATMs.

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