This is about dodgy ATM's and scammers using them to scam people, definitely would be staying away
from them.

If they are identified as dodgy machines cant the authorities apprehend the scammers whe they come
to collect the cash?

Is like "one way traffic", it seems like they have no issue with users wanting to sell their Bitcoin for cash
at least they can still be an option as an untraceable option.

Anyway I would love to use a Bitcoin ATM to convert cash to Bitcoin even with paying a premium but if
I have to go through some form of identification process I would not use them.

Total ban of crypto ATM is not a solution, and remember the scammers are making use of cryptocurrency ATM just as means to transfer their victims physical cash, is not as if the law enforcement agency wants to track the scammers there is a possibility through the receiving wallets and forensic analysis,.

Is the problem with Crypto ATM


The answer is no, but ATMs are just tools in the hands of the bad actors which is the scammers, it will be better for the government to create awareness around how to avoid becoming victims of scams most especially online.

Will only use such services if it's emergency and using one is the only option I have left, I doubt it's going to ever happen anyways, I've never used Bitcoin ATM before and even if they are everywhere I won't be using one, because I have no reason to use one.

Why did I feel like using Bitcoin ATM isn't helping decentralisation in any way? Because every person's that visit a Bitcoin ATM just exposed themselves as someone who have some Bitcoin.

In a state or city where wrench attack is ongoing do you think that Bitcoin ATM machines should exists in such place? Even countries that wrench attacks aren't popular yet, that ATM machine will just cause problems.

If someone is gullible enough to send their life savings to some random person on WhatsApp, banning a kiosk isn't going to save them. You can idiot-proof the machine, but you can't idiot-proof the user.

Just another moronic justification to ban Bitcoin.

Right from time, I'm part of those that don't even admire the use of Bitcoin ATM for any reason, so I'm still wondering why some are more interested in using this to perform a transaction, when we all know that the cost of the transaction fee is even high compared to normal one, scammers will definitely want to take advantage of some areas over this aspect and attack possible and scrupulous users of the Bitcoin ATM.

I don't think this law has a significant impact on reducing the number of scams, because scammers will definitely still find ways to scam people.. but at least this law is better than completely banning crypto ATMs just to reduce scams, which doesn't really address the problem, and seems like it's just to reduce the adoption of Bitcoin in more places. However, I think regulators should focus more on educating people about how these scams work rather than restricting access to crypto ATM, because that's what's important in helping people understand how scams work.

I will have to support this ban on use of bitcoin ATM because they are so many atrocities beer committed as a result, aside being scammed using different tactics over the use of Bitcoin ATM, I think it is still not the best ideal way for bitcoin users to perform their transaction in a safety manner if we are going to consider for privacy and security measures, what the government are doing is really in favor of every bitcoin users without them knowing.

Why ban the ATM when they can only ban the deposits? Banning the deposits I think you've been a fair decision because the ATM it self doesn't seem to be the problem rather it's how scammers use it to receive money from their victims. Banning the part that's being abused by scammers which is the deposits while people can still use the ATM machines I think would've been a more reasonable and considerable move.

Way better than the other regulation where the company need to refund the victim of romance scam and misplacing the criminal responsibility.

This regulation will also prevent people from getting overcharged with premium rate and high fee, those ATM are notoriously known for this.

If the government can funnel the customer into better service with better conversion rate, another win for new people who want to buy Bitcoin and not getting overcharged on their first day.

Their rate is the worst and fee is high, but I guess having an alternative won't hurt.

Maybe some people want to cash out their Bitcoin straight out of the ATM and get cash directly. Even though with all these scams, the reputation of Bitcoin ATM is hitting a new low.

The deposit is the real problem here and why I think the law is on point, if you're not victim of romance scam or hyip, you get charged with premium rate.

On the other hand if you're a victim of romance scam or hyip, you get both charged at premium rate and lose your money. The deposit is like a tourist trap.