Monthly Archives: May 2019

Bitcoin Depot ATM

Regulatory Compliance Requirements Overview to Operate Bitcoin ATM in the U.S.

In this video, taken on the Sacramento Bitcoin Meetup in April, you will see the Founder of BitAML, Joe Ciccolo talking about the state of regulatory compliance within the crypto space.

You will hear him talking about: agency involvement in cryptocurrency regulation, where individual states stand on the regulation of Bitcoin, and two current assembly bills in California.

Although there is a rumor going around that the Bitcoin is a sort of a Wild West in terms of regulation, it could not be further from the truth. Actually, there are some agencies that are responsible for Bitcoin regulation and Joe is going to cover some of them in his presentation. The focus will be on FinCEN and he will talk a bit less on SEC and CFTC.

SEC (Securities Exchange Commission) stated that under certain circumstances Bitcoin and other cryptocurrencies can be considered as a security, so they have been very busy focusing on ICOs (Initial Coin Offerings). They started an investigation and eventually created a case law that ultimately shut down the ICO and depending on the perspective they either did a fantastic job, or they cut off a valid mechanism of financing.

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Bitcoin ATM Market Dynamics April 2019

April started with the Bitcoin price of $4,145 and encountered a high rise in the next 2 days, breaking the $5000 barrier. For the rest of the month, the price maintained the same level and the month ended with the price tag of $5,262 which is almost a 27% rise when compared to the price in the beginning of the month.

The number of new machines continued to grow at a relatively stable rate, following the rise of the Bitcoin price.

Period Start: 4495, Period End: 4703
Opened: 307, Closed: 99, Net Growth: +208(4.6%)

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