Global Rise in Crypto ATM Utilization

The report from the world’s largest crypto store mentions that the overall utilization of crypto ATMs is increasing in different sectors. According to the Coin ATM Radar, there are a total of 38420 crypto ATMs including 235433 other services in 67 countries. The Financial Conduct Authority of the United Kingdom managed and directed checks over…

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Ohio’s New Crypto Fraud Unit Claims First Victory, Recovers $130K From Scam

The Ohio Bureau of Criminal Investigation’s new Electronic Fraud Investigations unit has recovered $130,000 from a cryptocurrency scam in its first victory. The unit was established to address the growing complexity of cyber financial crimes, particularly those involving cryptocurrency. Ohio’s New Fraud Unit Recovers $130K From Crypto Scam Ohio Attorney General Dave Yost announced on…

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FCA Secures First Conviction for Illegal Crypto ATM Operation in UK

Olumide Osunkoya has pleaded guilty to illegally running a crypto ATM network across the UK. Even though the UK Financial Conduct Authority (FCA) denied his registration, his operation handled millions in cryptocurrency transactions. This case represents the first conviction of its type under the UK’s anti-money laundering laws. UK’s First Illegal Crypto ATM Conviction Unveiled…

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100+ Businesses, 400+ Crypto ATMs

Nowadays, a slower pace has been seen in the installation of traditional ATMs (ATMs used for transactions related to the national currency of a nation) globally. However, finance experts argue that the decline seems to be fueled by the surged adoption of ATMs facilitating services related to cryptocurrencies.  It is crucial to note that a…

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Court Upholds $1,000 Cap on Daily Crypto ATM Withdrawals in California

A California Superior Court has upheld the Digital Financial Assets Law, which includes a $1,000 daily withdrawal limit for cryptocurrency ATMs. The law also requires crypto ATM operators to obtain licenses and comply with fee limits and new disclosures. California Court Upholds Bitcoin ATM Withdrawal Limit The California Department of Financial Protection and Innovation (DFPI)…

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BaFin Seizes $28 Million from Unlicensed Crypto ATMs in Germany

As per recent information, German authorities have seized approximately $ 28 million from 13 unlicensed cryptocurrency ATMs across the region. The BaFin warns operators that violating licensing requirements will have severe legal consequences.  Statista notes that Germany’s cryptocurrency users are expected to reach 27.32 Million by 2025. The growth of digital currency has led to…

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