Bitcoin Depot Introduces ID for All Transactions

Bitcoin Depot, the largest Bitcoin ATM operator in the US, has started requiring users to provide identification for all transactions across its network starting in February. CEO Scott Buchanan stated this continuous verification aims to detect suspicious activity in real time, prevent misuse like identity theft, and strengthen security. Previously, ID verification was only required for new users since October. This move comes amid increasing regulatory pressure and lawsuits from state attorneys general in Massachusetts, Maine, and Iowa, alleging that crypto ATM operators, including Bitcoin Depot, have not implemented sufficient safeguards to stop scammers who use the irreversible transactions to receive funds from victims. The US leads globally in Bitcoin ATMs, with Bitcoin Depot operating the majority of the machines in the country.

(Source：Cointelegraph)