Bitcoin Depot to require ID for every US crypto ATM transaction

Bitcoin Depot, the leading US crypto ATM operator (9,019 kiosks), has begun a phased rollout requiring identity verification for every transaction at its US ATMs. The policy expands an October rule that applied only to new users and is intended to detect suspicious activity in real time and prevent account sharing, identity theft and account takeover. CEO Scott Buchanan said continuous verification lets the company flag suspicious customers, locations or transaction amounts before approval. The change follows growing regulatory pressure and legal actions: Massachusetts’ attorney general sued alleging insufficient safeguards and hidden fees; Maine settled for $1.9 million to reimburse victims of ATM scams; Iowa’s attorney general also sued Bitcoin Depot (and competitor Coinflip) last year. Advocacy groups say 17 US states now require crypto-ATM protections such as transaction limits, warnings and licensing. For traders: expect a likely reduction in OTC/peer cash access and slower cash-to-crypto flows at Bitcoin Depot machines in affected regions, which may modestly reduce instant-buy demand. Primary keywords: Bitcoin Depot, crypto ATM ID, identity verification, crypto ATM regulation. Secondary keywords: Bitcoin ATM, AML, scams, transaction limits.