United

Bitcoin

ATM (ATMcoin.top)

Andy

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    <h4 class="relative p-1 rounded-sm flex items-center justify-center bg-token-main-surface-primary text-token-text-primary h-8 w-8"><strong>On August 7, Andy Pickett, Chief Administrative Officer of Butte County, <a href="https://chico.ca.us/documents/Government/Other-Local-Committees/2024-08-07-Local-Government-Committee-Agenda.pdf" target="_blank" rel="noopener">outlined efforts</a> to better regulate Bitcoin ATMs. </strong></h4> 
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     He also discussed strategies to mitigate fraud risks. Let’s discover more about Bitcoin ATM.
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       <h5><strong>Butte County Official Details Bitcoin ATM Regulation Efforts</strong></h5> 
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<p>Pickett highlighted recent state-level legislative measures aimed at curbing fraudulent activities associated with crypto ATMs. An investigation conducted in October 2023 revealed that some Bitcoin ATMs were charging exorbitant premiums, as high as 33%, and imposing deposit limits of up to $50,000.</p> 
<p>In response, California lawmakers passed <a href="https://leginfo.legislature.ca.gov/faces/billNavClient.xhtml?bill_id=202320240SB401" target="_blank" rel="noopener">a bill</a> that imposes a daily deposit limit of $1,000 for Bitcoin ATMs. Additionally, the legislation mandates that all transactions must come with a receipt and requires operators to disclose their names.</p> 
<p><img decoding="async" class="wp-image-147701 aligncenter" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/08/vcxfbgfghghg-300x298.jpg" alt="" width="478" height="475" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/08/vcxfbgfghghg-300x298.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/vcxfbgfghghg-150x150.jpg 150w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/vcxfbgfghghg.jpg 393w" sizes="(max-width: 478px) 100vw, 478px"></p> 
<h6 style="text-align: center;"><strong>Source: <a href="https://x.com/CoinATMRadar/status/1819750293757730941" target="_blank" rel="noopener">X</a></strong></h6> 
<h6><strong>More About Bitcoin ATMs</strong></h6> 
<p>Chico, a city in California, has <a href="https://coinatmradar.com/city/1130/bitcoin-atm-chico/" target="_blank" rel="noopener">347 active crypto ATMs</a>, a figure that surpasses the number of such machines in several major global economies. It includes Hong Kong, Spain, Poland, and New Zealand. This concentration of ATMs is part of a broader trend in the United States totaling 31,649 machines. Canada follows with 7.7% of the global network, representing 2,961 ATMs, while Australia ranks third with 3% and 1,143 machines.</p> 
<p><img decoding="async" class="wp-image-147695 aligncenter" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/08/cvxvcbbnvnbmmnb-300x220.png" alt="" width="518" height="380" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/08/cvxvcbbnvnbmmnb-300x220.png 300w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/cvxvcbbnvnbmmnb-80x60.png 80w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/cvxvcbbnvnbmmnb.png 393w" sizes="(max-width: 518px) 100vw, 518px"></p> 
<h6 style="text-align: center;"><strong>Source: <a href="https://x.com/CoinATMRadar/status/1820121635413754018" target="_blank" rel="noopener">X</a></strong></h6> 
<p>The recent legislative and regulatory moves in California come amid a notable shift in the global Bitcoin ATM landscape. In July, the global network saw its first decline in Bitcoin ATM installations for the year, with 660 machines being removed. This reduction underscores the dynamic nature of the crypto ATM industry and highlights the need for effective regulation to address emerging issues.</p> 
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<h6><strong>Disclaimer</strong></h6> 
<p>The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.</p> 
<p>The post <a href="https://www.altcoinbuzz.io/cryptocurrency-news/california-strengthens-bitcoin-atm-regulations/">California Strengthens Bitcoin ATM Regulations</a> appeared first on <a href="https://www.altcoinbuzz.io">Altcoin Buzz</a>.</p>

California Strengthens Bitcoin ATM Regulations

Altcoin Buzz

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