Canada: Vancouver Mayor Suggests Ban on Bitcoin ATMs

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

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  1. koorper

    koorper Invests like a Pro

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    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 Fully decentralized

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    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.
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