{"id":48313,"date":"2021-08-26T12:24:35","date_gmt":"2021-08-26T09:24:35","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=48313"},"modified":"2025-09-02T01:36:35","modified_gmt":"2025-09-01T22:36:35","slug":"bitcoin-atm-operators-form-alliance-to-bolster-compliance-standards","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bitcoin-atm-operators-form-alliance-to-bolster-compliance-standards\/","title":{"rendered":"Bitcoin ATM operators form alliance to bolster compliance standards"},"content":{"rendered":"<p>Bitcoin ATM operators DigitalMint and Coinsource, together with analytics firm Chainalysis, have created<a href=\"https:\/\/crypto3c.org\/\"> Cryptocurrency Compliance Cooperative (CCC)<\/a>. Its mission is to create a safe environment for consumers and to legitimise the cryptocurrency\u2011ATM industry.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">We\u2019re proud to announce that we\u2019ve joined <a href=\"https:\/\/twitter.com\/Crypto_3C?ref_src=twsrc%5Etfw\">@Crypto_3C<\/a>, a collaborative association that advocates on behalf of the cash to <a href=\"https:\/\/twitter.com\/hashtag\/cryptocurrency?src=hash&#038;ref_src=twsrc%5Etfw\">#cryptocurrency<\/a> industry to establish universal <a href=\"https:\/\/twitter.com\/hashtag\/compliance?src=hash&#038;ref_src=twsrc%5Etfw\">#compliance<\/a> standards &#038; regulatory controls. To learn more, visit: <a href=\"https:\/\/t.co\/n1PDCAfSmm\">https:\/\/t.co\/n1PDCAfSmm<\/a><\/p>\n<p>\u2014 DigitalMint (@DigitalMintIO) <a href=\"https:\/\/twitter.com\/DigitalMintIO\/status\/1430567684203327495?ref_src=twsrc%5Etfw\">August 25, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Also joined the alliance were Elliptic, CipherBlade, as well as a number of financial institutions and consulting agencies.\u00a0<\/p>\n<p>The coalition aims to attract fiat-to-crypto platforms, regulators, law enforcement agencies, and non-governmental organisations.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cEfforts are required of us. CCC is not a group, but a movement. We hope others will join the alliance. The improvement and modernization of the rules are necessary in the interests of public safety\u201d<\/em>, \u2014 said Seth Sattler, Director of Compliance at DigitalMint.<\/p>\n<\/blockquote>\n<p>Quarterly meetings are planned, during which participants will update information on regulatory acts, industry standards and research, and share experiences of engaging with regulators.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cUnscrupulous actors employ minimal customer-protection measures, allowing fully anonymous transactions. The industry has faced cases of fraud, abuse of the elderly, drug trafficking and human trafficking\u201d<\/em>, \u2014 said Sattler.<\/p>\n<\/blockquote>\n<p>The press release mentions a report by the New Jersey Independent Government Investigations Agency. According to the document, nearly 75% of bitcoin ATM operators did not require customers to provide information beyond a mobile phone number. In some cases, users could conduct fully anonymous transactions up to $900.<\/p>\n<p>According to <a href=\"https:\/\/coinatmradar.com\/charts\/growth\/\">Coin ATM Radar<\/a>, at the time of writing there were 25,841 Bitcoin ATMs globally (the United States had 22,722 devices). As of January 1, 2021 the indicator <a href=\"https:\/\/u1f987.com\/en\/news\/number-of-bitcoin-atms-worldwide-rises-by-more-than-70\">stood at<\/a> 13,993 units.<\/p>\n<p>The How Many Bitcoin ATMs site counted 42,266 ATMs and kiosks with first-cryptocurrency functionality in the United States. DigitalMint accounts for 2.2% of the market, CoinSource 2.5%.<\/p>\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"624\" height=\"328\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/1-532.png\" alt=\"\u041e\u043f\u0435\u0440\u0430\u0442\u043e\u0440\u044b \u0431\u0438\u0442\u043a\u043e\u0438\u043d-ATM \u0441\u043e\u0437\u0434\u0430\u043b\u0438 \u0430\u043b\u044c\u044f\u043d\u0441 \u0434\u043b\u044f \u0443\u043a\u0440\u0435\u043f\u043b\u0435\u043d\u0438\u044f \u043a\u043e\u043c\u043f\u043b\u0430\u0435\u043d\u0441-\u0441\u0442\u0430\u043d\u0434\u0430\u0440\u0442\u043e\u0432\" class=\"wp-image-146872\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/1-532.png 624w, https:\/\/u1f987.com\/wp-content\/uploads\/1-532-300x158.png 300w\" sizes=\"auto, (max-width: 624px) 100vw, 624px\" \/><figcaption>Data: How Many Bitcoin ATMs.<\/figcaption><\/figure>\n<\/div>\n<p>As a reminder, the Hong Kong Securities and Futures Commission <a href=\"https:\/\/u1f987.com\/en\/news\/bitcoin-atms-in-hong-kong-face-threat-from-expanded-regulatory-restrictions\">is considering<\/a> a ban on the purchase of digital assets through crypto ATMs.<\/p>\n<p> Subscribe to ForkLog news on <a href=\"https:\/\/vk.com\/forklogcom\" target=\"_blank\" rel=\"nofollow noopener\">VK<\/a>! <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin ATM operators DigitalMint and Coinsource, together with analytics firm Chainalysis, have formed the Cryptocurrency Compliance Cooperative (CCC). Its mission is to create a safe environment for consumers and to legitimise the crypto ATM industry.<\/p>\n","protected":false},"author":1,"featured_media":48314,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[274,1189,36,26],"class_list":["post-48313","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-chainalysis","tag-cryptomats","tag-regulation","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"30","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/48313","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=48313"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/48313\/revisions"}],"predecessor-version":[{"id":48315,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/48313\/revisions\/48315"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/48314"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=48313"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=48313"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=48313"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}