BitcoinATM

In the US, regulations for Bitcoin ATM operators are being tightened due to an increase in fraud and money laundering. According to Axios on June 24, 2025, several states have enacted strict laws limiting deposit amounts and enhancing oversight of cryptocurrency ATMs. This is a response to the use of such devices by fraudsters for extortion and illegal transactions.

Coinme, a crypto ATM operator based in Seattle, has agreed to pay a $300,000 fine for violating California's rules governing daily transaction limits for crypto kiosks.
A law passed in 2023 in California limits crypto ATM transactions to a maximum of $1,000 per customer per day. According to the California Department of Financial Protection and Innovation (DFPI), Coinme exceeded this limit and also failed to include mandatory information on receipts issued to customers at its kiosks located in grocery stores and convenience shops across the state.
This marks the first enforcement action under the state’s new Digital Financial Assets Law.
In addition to the fine, Coinme will also pay $51,700 in restitution to a senior citizen from California who claimed to have been defrauded. DFPI officials stated this case sends a strong message to crypto kiosk operators that the state is serious about enforcing rules designed to protect unsuspecting residents from scams.

Growing Concern Over Crypto ATM Scams
Authorities have raised concerns over the rising number of scams involving crypto ATMs, where victims are tricked into depositing funds into kiosks and transferring them directly to scammer-controlled wallets. The 2023 Digital Financial Assets Law was designed to tackle such risks by introducing regulations for kiosk operators.
According to FBI data, nearly 11,000 complaints involving crypto ATMs were filed in 2024, with reported losses exceeding $246 million—an increase of 31% from the previous year. Seniors aged 60 and older were among the most frequently targeted victims.

Bans and Raids in Other Regions
While California is tightening regulations, Spokane, the second-largest city in Washington, has gone a step further by banning crypto ATMs altogether. The move aims to shield citizens from scams and money laundering. Local law enforcement reports that funds from these kiosks have been traced to destinations like China, North Korea, and Russia.
Meanwhile, in Australia, federal police launched a crackdown on illegal use of crypto ATMs, contacting over 90 individuals—including both scam victims and suspected offenders.

In a dramatic case in Texas, a county sheriff personally intervened and brought a power-cutting tool to a crypto kiosk after a family reportedly lost $25,000 to fraud.

#Cryptoscam , #CryptoATM , #DigitalAssets , #BitcoinATM , #CryptoNewss

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Key Takeaways
Bitcoin ATMs (or BTMs) allow users to buy and sell bitcoin (and sometimes other cryptocurrencies) by using either cash or debit cards.
If you are new to crypto, you will need to set up a crypto wallet before using a Bitcoin ATM.
Bitcoin ATMs are easy to use but charge high fees, typically much more than online alternatives, with costs sometimes reaching up to 20% per transaction.

What Is a Bitcoin ATM?
Ever wonder how you can buy bitcoin using good old-fashioned cash? That’s where Bitcoin ATMs come into play!
A Bitcoin ATM is exactly what it sounds like—an automated teller machine for bitcoin (BTC). It’s a physical machine, usually found in public places, that lets you buy or sell BTC (and sometimes other cryptocurrencies) in exchange for cash or a debit card payment. It’s like your traditional bank ATM, except it connects you to the exciting world of crypto instead of your regular bank.
How Do Bitcoin ATMs Work?
Bitcoin ATMs are pretty straightforward. To buy bitcoin, you insert cash into the machine, scan your wallet QR code, and the ATM will automatically transfer the BTC to your wallet address. We will cover the steps in more detail below, but keep in mind that you will need to set up a crypto wallet if you haven’t already.
Depending on the location, Bitcoin ATMs may offer both buying and selling services. However, some Bitcoin ATMs will only allow you to buy, and others will only allow you to sell.
If the ATM allows you to sell bitcoin, you can do it by sending the coins from your wallet to the address provided by the machine. Once the transaction is confirmed on the blockchain (which might take a while), the ATM will release the cash. Just make sure you know whether the ATM you’re using supports selling.
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Habibur Rahman, a crypto trader from East Ham, London, has pleaded not guilty to charges related to running an illegal crypto ATM business and laundering £300,000 (about $395,000) in criminal cash.
Rahman was arrested in April 2023 after police raided his mobile phone shop in Chatham, Kent, where they seized several crypto ATMs. According to the BBC, a spokesperson for Kent Police confirmed the details. The Financial Conduct Authority (FCA) requires all crypto ATM operators to register with them, a rule Rahman allegedly ignored.
In his court appearance at Medway Magistrates’ Court, Rahman faced charges for operating an unregulated business and illegally converting cash to cryptocurrency between April and June 2022. Matthew Long, the FCA’s director of payments and digital assets, emphasized the risks of using these machines, warning that customers might be unwittingly giving their money to criminals.
This case is part of a broader crackdown by the FCA on unregistered crypto activities. Recently, another London trader, Olumide Osunkoya, was charged with operating multiple illegal crypto ATMs that processed £2.6 million (around $3.4 million) in transactions. Osunkoya has since pleaded guilty to five offenses, marking the first conviction of its kind in the UK.
As the FCA ramps up its enforcement efforts, this case highlights the need for regulatory oversight in the cryptocurrency sector to protect consumers and maintain financial integrity.
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