When bitcoin ATMs arrived on the scene about four years ago, the virtual currency and peer-to-peer payment system stepped out of the online world into the real world. Before, bitcoin users had to purchase the currency on a bitcoin currency exchange and transfer to a digital wallet.
“Some bitcoin ATMs may have questionable anti-money laundering practices and procedures that allow people to go from [traditional] currency to bitcoin without it being traceable to them,” said Austin Mills, head of the blockchain and cryptocurrency group at Atlanta-based law firm Morris, Manning & Martin LLC.
To read the full article, please click here.
