Coming Soon to America: Bitcoin ATMs
(TIME) Bitcoins, the online currency built on cryptography and beloved by libertarians, could be available for purchase through specialized ATMs in the United States this year.
At least two firms have plans to ship out Bitcoin ATMs to American cities in the coming months. Robocoin, the Las Vegas-based firm rolling out the world’s first Bitcoin ATMs in Canada this fall, plans to ship 12 to 15 of the units by the end of the year. “We are working on deals right now in the U.S. that should deliver in December or January. Los Angeles, Florida, NYC, Austin, to name a few,” Robocoin CEO Jordan Kelley told TIME in an email.
According to Kelley, regulatory compliance hurdles in the United States are significant, and more stringent than in other countries. Registering as a “Money Service Business” with the federal government, according to Kelley, is fairly straightforward, but the patchwork of licensing regulations unique to each U.S. state is where things get more complicated.