Vancouver Mulls Bitcoin ATM Ban


According to local press reports, the Canadian city of Vancouver may prohibit bitcoin ATMs.

Vancouver, which already passed a regulation earlier in the year to regulate and license the cryptocurrency venders, is now mulling a complete prohibition. The possibility of a crypto-ban was raised by Mayor Kennedy Stewart during a city council meeting on May 28. Since then, a fact-finding group has been formed to research the issue and prepare a report due in the fourth quarter of 2019.

At issue is the possibility the units may be used for unsavory purposes, such as money laundering. The call for a ban on the machines follows multiple warnings by the Vancouver Police Department that cryptocurrency ATMs and the currency itself are being used to commit fraud and could be used to launder the proceeds of criminal activities.


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