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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.<\/p>\n
Bitcoin Depot has begun a phased rollout of 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.<\/p>\n
Bitcoin Depot said<\/a> on Tuesday that it began the rollout earlier in February across the company\u2019s US network ATMs, with the goal of helping to detect suspicious activity in real time and eliminate misuse by bad actors, such as account sharing, identity theft, and account takeover.<\/p>\n \u201cContinuous verification allows us to detect suspicious activity based on customers, locations, or transaction amount before a transaction is app<\/a>roved,\u201d Bitcoin Depot CEO Scott Buchanan said in a statement.<\/p>\n Read more<\/p>\n<\/p>\n If you liked the article, do not forget to share it with your friends. Follow us on\u00a0Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n If you want to read more News<\/a> articles, you can visit our General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n\n