🏧 [Analysis] Bitcoin ATMs may be used to launder money - Tom Schoenberg and Matt Robinson

Bloomberg Crypto investigates claims of Bitcoin ATMs, or BTMs, involvement in money laundering. Tom Schoenberg and Matt Robinson accompany former assistant U.S. attorney and Coinsource's General Counsel Arnold Spencer in his crusade against BTM abuse. Spencer argues that some 50% of BTMs are used for illicit activities, often because they fail to verify identification and limit transaction volume. According to Coin ATM Radar, some 4,000 machines exist worldwide with 2,389 residing in the U.S., presenting a real alternative for dark money movers. As of now, illegal cryptocurreny activity seems to be an issue without an owner: BTM manufacturers, operators, and law enforcement must create a comprehensive framework if this new frontier of money laundering is to be cracked.

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