Bitcoin ATMs | Crypto

Kenyan regulators say no crypto firms are licensed under the new VASP Act and warn that providers claiming approval are doing so illegally. Bitcoin ATMs were spotted across major shopping malls in Nairobi days after Kenya implemented its first comprehensive cryptocurrency law, creating an immediate stress test for regulators who claim that no crypto provider is yet authorized to operate.  Local media outlet Capital News reported that several major malls across Nairobi had new machines branded “Bankless Bitcoin” installed beside traditional banking kiosks, offering cash-to-crypto services to the locals.  This isn’t the first time Kenya has seen Bitcoin ATMs. In 2018, The East African reported that ATM provider BitClub installed Bitcoin ATMs in Nairobi, although adoption remained minimal and the devices did not reach mainstream retail spaces. Read more

Arizona Governor Katie Hobbs rejected bills to establish a state Bitcoin reserve and accept crypto payments, but signed a bill regulating crypto ATMs. Arizona Governor Katie Hobbs vetoed two key cryptocurrency-related bills that aimed to expand the state’s involvement in digital assets while signing a strict regulatory measure targeting Bitcoin ATMs. On May 12, Hobbs rejected Senate Bill 1373, which sought to establish a Digital Assets Strategic Reserve Fund. The fund would have allowed Arizona to hold crypto assets obtained through seizures or legislative allocations. “Current volatility in cryptocurrency markets does not make a prudent fit for general fund dollars,” she stated in her veto letter. “I have already signed legislation this session which allows the state to utilize cryptocurrency without placing general fund dollars at risk,” she added. Read more