Canada: Vancouver Mayor Suggests Ban on Bitcoin ATMs

Discussion in 'Crypto News' started by koorper, Jun 9, 2019.

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  1. koorper

    koorper Contributor

    The city of Vancouver, Canada, is considering banning bitcoin (BTC) automated teller machines (ATMs) due to money laundering issues, the Next Web reported on June 5.

    The mayor of Vancouver, Kennedy Stewart, has reportedly suggested a complete ban on bitcoin ATMs in connection with the increasing number of money laundering cases. A police report cited by the Next Web claim that criminals could purchase a bitcoin ATM for their own needs for a few thousand dollars, and then deposit their cash into that ATM “as many times as required” to profit from or eliminate the transaction fees.

    Canada: Vancouver Mayor Suggests Ban on Bitcoin ATMs
  2. Vla

    Vla Contributor

    The criminals have found an interesting way to launder money. But I think Canada doesn't need to ban Bitcoin ATMs, they need to improve the system to avoid such cases again
    Litvi_Me likes this.
  3. nazakethussain

    nazakethussain Contributor

    Well this is not a good decision over all.. because many people are now using bitcoin ATM.. so ther will be difficulties for them..

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