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Bitcoin ATMs: A Loop Hole in EU Regulations

Sofia Cabrera

Summary: In a recent report, the police in Spain exposed bitcoin ATMs as a facade for illegal transactions such as drug payments. The discovery of this loop hole in the European anti-money-laundering laws could result in an amendment of the regulations. The laws currently required money handlers to screen their clientele, however, this regulation does not ...

In a recent report, the police in Spain exposed bitcoin ATMs as a facade for illegal transactions such as drug payments. The discovery of this loop hole in the European anti-money-laundering laws could result in an amendment of the regulations. The laws currently required money handlers to screen their clientele, however, this regulation does not apply to the 89 crypto ATMs throughout Spain.

Author: Sofia Cabrera

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