Worldwide, there's increasing focus on Bitcoin ATMs due to their potential involvement in illegal activities.
Regulations for Bitcoin ATMs in New Zealand and Australia
In New Zealand, law enforcement calls for immediate action against Bitcoin ATMs, associating them with fraud, drug trafficking, and extortion. Australia is also taking steps to regulate these machines, indicating a broader effort to control their use.
Situation in the UK: Tightened Control
In the UK, the crackdown on unregistered crypto ATMs has intensified. A London court recently sentenced a man to four years in prison for running unregistered Bitcoin ATMs, highlighting the seriousness of the issue. Scottish authorities have warned citizens about scams related to these kiosks.
USA: Stricter Rules and New Initiatives
In the US, the approach is leaning toward stricter regulations instead of outright bans. For example, Nebraska has introduced a bill that sets transaction limits, licensing requirements, and compliance rules for Bitcoin ATMs. Governor Jim Pillen has stressed the importance of security, stating that while cryptocurrency is a significant industry, measures must be in place to prevent criminal exploitation.
While no complete ban has been enacted, increasing regulatory pressure and new control measures may impact their future use.
