This writer received three cold e-mails in two weeks asking for legal help around operating a bitcoin ATM (BTM). (For ease of reference we call these machines BTMs, but they generally serve other virt…
So You Want to Put a Bitcoin ATM in a Coffee Shop
In Brief
- What are the legal requirements of a bitcoin ATM operatior, or BTM?
- The federal Bank Secrecy Act and its implementaing FinCEN regulations, state money transmitter laws, and other laws all come into play.
- Practitioners should be ready to advise groundbreakers looking to deal in virtual currency.
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