ChainCatcher news, according to News.bitcoin, 45 new locations in five states in the United States will establish cryptocurrency ATMs.Convenience store chain Yesway is partnering with digital currency platform Coinflip to provide cryptocurrency ATMs for its customers, offering a seamless and secure way to buy and sell Bitcoin and other digital currencies in five states, including Texas and Iowa.As digital currency kiosks expand to 45 new locations in the Southwest and Midwest, cryptocurrency is becoming increasingly accessible across the United States.

ChainCatcher news, Habibur Rahman, a resident of East Ham in London, denied the charges of operating an unlicensed cryptocurrency ATM business and laundering money through cryptocurrency transactions. Rahman appeared at Medway Magistrates' Court and pleaded not guilty to the charges of running illegal machines without authorization from the Financial Conduct Authority (FCA).Rahman is accused of exchanging £300,000 of illegal cash into cryptocurrency between April 1 and June 16, 2022. This was discovered after Kent Police searched a shop in Chatham on April 28, 2023, and seized several cryptocurrency ATM machines during the raid.The case has now been transferred to Maidstone Crown Court, with the next hearing scheduled for November 7. Police stated that Rahman's involvement in cryptocurrency trading not only violated financial regulations but also involved money laundering. He was granted bail after appearing in court and will await further developments in the coming weeks.

ChainCatcher news, according to a press release from the UK's Financial Conduct Authority (FCA) on Monday, Olumide Osunkoya has admitted to illegally operating a cryptocurrency ATM network, marking the UK's first conviction case involving cryptocurrency ATM operations. At a hearing held at Westminster Magistrates' Court, 45-year-old Olumide Osunkoya pleaded guilty to five charges.Sentencing for these offenses will take place at Southwark Crown Court, with a specific date to be determined.Previous news, the UK's Financial Conduct Authority (FCA) announced on September 10 that charges had been brought against 45-year-old London resident Olumide Osunkoya for illegally operating multiple cryptocurrency ATMs that were not registered with the regulatory body.

ChainCatcher news, according to the Financial Times, the UK's Financial Conduct Authority (FCA) announced on September 10 that it has charged 45-year-old London resident Olumide Osunkoya with illegally operating multiple cryptocurrency ATMs that are not registered with the regulatory agency. The FCA revealed that the ATMs operated by Osunkoya processed £2.6 million worth of cryptocurrency transactions between December 2021 and September 2023, with these ATMs located in multiple sites.The FCA stated that Osunkoya was a director of Gidiplus Ltd, whose registration application was rejected by the regulatory agency in 2021. Subsequently, Osunkoya began conducting related activities independently.

ChainCatcher news, according to Bloomberg, Bitcoin ATMs are flooding into Australia, making the country the fastest-growing market for these machines, which has also raised questions about the sources of demand for this controversial service. According to Coin ATM Radar data, the United States dominates the market with approximately 32,000 cryptocurrency ATMs, followed by Canada with about 3,000. Australia ranks third with nearly 1,200 cryptocurrency ATMs, up from just 73 two years ago, and more ATMs are under construction.In a call with analysts in August, Bitcoin Depot Inc. CEO Brandon Mintz stated that the company has over 200 cryptocurrency ATMs in Australia awaiting deployment after regulatory approval. Coin ATM Radar data shows that Australia's recent growth is leading globally. Operators believe these machines promote financial inclusion by providing convenient access to cryptocurrency. However, critics point out the risks of money laundering and potential losses due to fraud against users. Countries like the UK and Singapore have banned these machines, while Germany is conducting crackdowns.

ChainCatcher news, according to a report by Coindesk, the latest report from blockchain analytics firm TRM Labs shows that since 2019, the cash-to-crypto industry, primarily driven by cryptocurrency ATMs, has processed at least $160 million in illegal transactions.In 2023, illegal transfers to known scam addresses through cash-to-crypto services reached as high as $30 million, accounting for 79%.The report points out that global law enforcement agencies are increasingly concerned about the growth of cryptocurrency ATM usage. Recently, Germany's financial regulator BaFin shut down 13 cryptocurrency ATMs and seized approximately $280,000 in cash. Similar actions have been taken in countries like the UK and the US.TRM Labs emphasizes that cryptocurrency ATMs face additional money laundering risks due to their use of cash and the lack of face-to-face interaction or account controls. Notably, in 2023, 13% of digital asset fraud cases involving individuals over 60 were related to Bitcoin ATMs.Although the US has shut down over 1,000 machines since May, it still has the most cryptocurrency ATMs in the world, with over 31,000. The number of cryptocurrency ATMs in Australia has increased 17-fold in two years, potentially making it the third-largest market globally.

ChainCatcher news, the UK police have released the country's first cryptocurrency ATM indictment after accusing a resident of operating an illegal cryptocurrency ATM and laundering £300,000 ($395,000).The UK's Financial Conduct Authority (FCA) issued a cryptocurrency ATM ban in 2022, warning machine operators that they must be registered with the FCA. Subsequently, the regulator launched a crackdown on unregistered cryptocurrency ATMs.The FCA emphasized in the indictment: "There are currently no cryptocurrency ATMs registered with the FCA, so if you use one of these machines, you may be handing your money over to criminals."

ChainCatcher news, the Federal Financial Supervisory Authority (BaFin) of Germany recently launched a nationwide operation against unlicensed cryptocurrency ATMs. This operation seized 13 cryptocurrency ATMs and $28 million in cash. The action took place on August 20 and involved 35 locations that reportedly operated unlicensed crypto ATMs.BaFin emphasized that these unlicensed ATMs are often used for scams, fraud, and money laundering activities, posing a serious risk to the financial system. According to German banking law, cryptocurrency ATM operators must obtain authorization from BaFin. Violators may face severe legal consequences, including up to 5 years of imprisonment.

ChainCatcher news, Bitcoin Depot, which has over 7,400 Bitcoin ATMs in the United States, announced that it will seek to allocate part of its cash reserves to Bitcoin. The company explained that this strategy aligns it with other forward-thinking institutions that use Bitcoin as a hedge against inflation and aim to benefit from its assets in the future.Bitcoin Depot stated that its Bitcoin purchases will be "opportunistic in nature" and will not include funds necessary for its operations. CEO Brandon Mintz mentioned that this initiative demonstrates the company's "long-standing belief that Bitcoin is an important financial asset and store of value."The company did not disclose how much of its cash reserves it intends to convert into Bitcoin, nor did it reveal whether it has set any proportional targets for this task.

ChainCatcher news, according to a recent investigation by the Organized Crime and Corruption Reporting Project (OCCRP) and the Miami Herald, cryptocurrency ATMs designed to facilitate the conversion of cash into cryptocurrency are increasingly being exploited by scammers.The OCCRP report indicates that many of these fraudulent activities are linked to international crime networks from countries with weak regulatory frameworks. One of the main issues leading to the increase in crypto ATM scams is the inconsistent regulatory environment between different states. While federal law requires crypto ATM operators to register with the Financial Crimes Enforcement Network (FinCEN) and comply with anti-money laundering (AML) standards, state-level regulations vary widely. Some states have strict requirements, while others, like Illinois, do not classify cryptocurrency as money, thereby limiting regulatory oversight.

According to ChainCatcher news, as reported by Cointelegraph, the number of cryptocurrency ATMs installed in 2024 so far is 2,564, expected to cover the 2,861 removed in 2023. Over the past 12 months, the total number of cryptocurrency ATMs worldwide has surged by 17.8%, reaching 38,279, close to the record of 39,541 set in December 2022.Over 82% of cryptocurrency ATMs are located in the United States, with Canada in second place at 7.7%. Australia has seen a surge in installations, increasing nearly 17 times over the past two years to 1,107, and at the current installation rate, Australia is expected to surpass Europe's 1,584 ATMs. Other countries and regions with cryptocurrency ATMs include Spain (313), Poland (279), El Salvador (215), Germany (177), and Hong Kong (169). Currently, there are 72 countries and regions with cryptocurrency ATMs.

ChainCatcher news, according to Cointelegraph, cryptocurrency ATM company Bitcoin Depot achieved a revenue of $197.5 million in the second quarter of 2023, an increase of 18% year-over-year. Bitcoin Depot plans to increase the number of Bitcoin ATMs after its listing on Nasdaq to expand its market share.The company also reported a net loss of $6.1 million, a decrease of 249% year-over-year. The profit for the second quarter was $25.9 million, while the gross margin for the second quarter of 2023 was 13%, up from 8% in the same period last year.

ChainCatcher news, according to CoinDesk, cryptocurrency ATM operator Bitcoin Depot has gone public on Nasdaq through a merger with SPAC company GSR II Meteora, trading under the ticker "BTM". The BTM stock price rose to $6.60 in pre-market trading, before falling back to $3.39.According to data from Coin ATM Radar, Bitcoin Depot operates over 6,000 of these machines, accounting for 20% of the U.S. ATM market share and 17.6% of the global market share. (source link)

ChainCatcher News, one of the largest crypto ATM companies in the U.S., Bitcoin Depot, has announced the completion of its merger transaction, allowing the company to go public. Investors will have access to Bitcoin Depot's common stock on Nasdaq starting July 3, with the ticker symbols for its common stock and public warrants being BTM and BTMWW, respectively.Previously, it was reported that the crypto ATM company Bitcoin Depot planned to go public via SPAC at a valuation of $885 million. (Source link)

According to ChainCatcher news and data from Coin ATM Radar, the net increase of cryptocurrency ATMs worldwide in May was 1,397, while there was a net decrease of 5,850 cryptocurrency ATMs in the first four months of 2023. As of now, there are 35,069 cryptocurrency ATMs operating globally. (source link)

ChainCatcher news, General Bytes cryptocurrency ATM services were attacked on March 17 and 18. The attackers exploited an upload interface in the system to upload and execute a malicious Java program, gaining access to the database on the server and the hot wallet withdrawal API Key. According to SlowMist's MistTrack statistics, the loss is approximately $1.8 million. The official announcement and remediation plan have been released, and relevant users operating such services can contact the official team immediately.Previously, ChainCatcher reported in August last year that General Bytes also encountered a security incident where funds were stolen by hackers when customers deposited or purchased cryptocurrency through the ATM, but the official did not disclose whether any cryptocurrency was stolen. (Source link)

ChainCatcher news, cryptocurrency ATM operator Coin Cloud has filed for bankruptcy in the U.S. Bankruptcy Court for Nevada, with estimated liabilities ranging from $100 million to $500 million and estimated assets between $50 million and $100 million. The number of creditors exceeds 10,000, with Coin Cloud's largest creditor being Genesis Global Trading, which has provided over $100 million in unsecured loans. (source link)

ChainCatcher news, recently affected by the bear market, the global number of Bitcoin ATMs has hit a record low. However, at the same time, the number of crypto ATMs in Australia is still rising rapidly, with Australia currently having 234 crypto ATMs, ranking third in the world, behind the United States and Canada.It is reported that the United States has 33,387 crypto ATMs, and Canada has 2,556, together accounting for 94.4% of the world's total crypto ATMs. (source link)

ChainCatcher news, according to Cointelegraph, Australia deployed 99 cryptocurrency ATMs in the fourth quarter of 2022. As of January 1, 2023, Australia has a total of 219 active cryptocurrency ATMs, surpassing El Salvador to become the fourth largest crypto ATM hub.It is reported that the total number of cryptocurrency ATMs worldwide is 38,602, with 6,071 ATMs installed in 2022 alone. The top three countries by the number of crypto ATMs are the United States, Canada, and Spain. (Cointelegraph)

ChainCatcher news, according to Bloomberg, cryptocurrency ATM operator Coin Cloud has been seeking additional funding support from Genesis. According to informed sources, Genesis has so far provided Coin Cloud with approximately $100 million in unsecured loans.To further support Coin Cloud, the two parties have recently had discussions, and Genesis is also considering making an equity investment in it. It is reported that the Las Vegas-based cryptocurrency ATM operator Coin Cloud has over 4,000 devices in the United States and Brazil. (Source link)