Earlier, the pro-Bitcoin state laws and city ordinances of Chico in California are expected to cumulatively enhance the Available Light’s administration of the Bitcoin teller machines or ATMs.
In a local government committee talk held on Aug. 7, participating as the chief administrative officer at the County of Butte, Andy Pickett discussed the current actions to Bitcoin’s regulation.
Pickett described some of the most recent bills in states to curb fraudulent activities regarding Bitcoin ATMs.
California strengthens reporting requirements for crypto ATMs
In October 2023, a legislative examine of Californian discovered roughly one third of crypto ATMs imposing a forty percent added price, whereas a handful of ATMs positioned a limit on the number of crypto purchases at $50,000. Therefore to reduce deposit amount which had become a problem, a bill was made to regulate the amount of deposit per day to one thousand dollars. Also, in California, for all the transactions that take place through the crypto ATMs, the identification of the operator and their receipt are required.
“More significant is another bill that will commence in July 2025 regarding the utilization of Bitcoin ATMs, which will allow the organization to govern it like a bank. ”
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In addition to this, Pickett proceeded to emphasize on the situation of the Bitcoin ATMs calling for their regulation locally. He added that “to control the Bitcoins machines every jurisdiction would have to enact their own ordinance, any ordinance passed would be likely to be challenged.”
Anticipating a large-scale crackdown on crypto ATM operators
The world map visualization presented on Coin ATM Radar shows that, for the moment, the City of Chico has 347 working crypto ATMs, and this indicator is higher than the approximate total amount of ATMs in some leading world economies, such as Hong Kong, Spain, Poland, New Zealand, etc.
The United States represents 82 percent of the total trade area of the Americas. Thus, to account for 6% of the global Bitcoin ATM network, there are 31,649 machines. Canada follows with 7. Subsequently, Australia has 3% (1,143) of the total followed by Sweden with 7% (2,961) of the total.
In the same way as it was pointed above, in the United States, especially in California, there are 2,872 crypto ATMs located in different jurisdictions.
July also saw the first regression in Bitcoin ATM installations in 2018 – by removing 660, the global number of crypto ATMs got to 1,161.