Bitcoin Forum

The Federal Financial Regulation Authority (FFSA) or BaFin, the body responsible for overseeing cryptocurrency service providers, was in the midst of cracking down on both illegal and unregulated Bitcoin ATMs.

According to a Bitcoinnews.com article, the closure accompanies a regulation that took effect last January ordering crypto-service operators to receive BaFin authorization.

German BaFin regulators have found a range of illegal Bitcoin ATMs running in Germany, and at least one firm, the Estonia-licensed Virtual Planet OÜ operated by the Shitcoin Club, has issued an order to halt the activity of Bitcoin ATMs in the region, according to the article.

Another central Bitcoin ATM provider, Coin Fellows, was told to stop all activities in Germany by the end of July.

Bitcoin traders in Germany opposed the closure, arguing that the BaFin criteria are too stringent for small enterprises and are best appropriate to banks and major financial entities.

The U.S. Department of Justice has already started cracking down on illegal bitcoin ATMs and recently confiscated 17 computers in California, according to the article.

If it was illegal and unregulated they have to be shut down , since it could cause more problems in the future. If in case there was some problem and the person did not know who to go to it would all be futile. Most ATM's are registered, have numbers to contact in case there is some problems and such , please people can even report this to the police.

But when it comes to unregulated ATM's it might create a problem , not just for the people or the Government but for the image of Bitcoins itself.

Therefore these ATM's needs to be shut down until and unless the person in charges , registers and clears all the problems but when it comes to people with small businesses they will ofcourse oppose the decision , I do believe the Government should employee a little different strategy for these people.

But they cannot just go around and let illegal ATM's in the public since it would be the responsibility of the Government itself.

It may be a part of larger conspiracy against bitcoin or may not be! But if a government has a set regulation to be follower for all crypto related businesses, that must be followed! Businesses in Germany are lucky because they at least have a guideline to follow while in majority of the other countries, guidelines don't exist and regulators are free to make up any charges against the illegal business operators.

If the rule is very strict for a small business to follow, then that can be addressed through various legislative channels, but ignoring the existing legislation and continuing to run the business, won't definitely bring good results!

this is one of many that driven people to negative thinking about bitcoin  :'(

the hardware of the ATM itself must be high regulated before out to public to prevent something like this

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who the own of that bitcoin atm anyway? that mush be rich person by now unregulated things mean no taxes right

No, Germany is one country in Europe wherein crypto is readily accepted. So there's no conspiracy here. And this is one reason why there are so many ATM's in that country, because it is welcome. However, there are some that are going to take advantage so I think this is the right move to get rid of those illegal bitcoin ATM's. If the operators wanted to make it legal, it's very simply, they just have to follow what the government issued regulations and they will be fine.

1. this is somewhat old news
2. unlicensed operators in Germany are just putting their machines in new locations instead (and changing the company name/branding)

Germany is indeed a big market for ATMs, so it makes it quite easy for the machines to hide amongst the crowd :)

What conspiracy are we talking about? If the law and regulation say that Bitcoin ATMs need to be lincenced to be legitimate then everything is clear. So basicly, with unlicensed ATMs someone wants to make illegal profit so I don't see anything wrong that government.doesn't want to allow that and that doesn't have anything to do with Bitcoin itself.

If we know that cryptocurrencies in Germany are very well regulated, and that the laws are very favorable for those who buy and sell them, then the data which shows only 50 crypto ATMs (https://coinatmradar.com/country/80/bitcoin-atm-germany/) that currently exist in the country is a bit unusual. Which would then mean that there really is a very large number of those illegal ATMs that operate outside the law - which again surprises me that it can happen in a country that has (or should at least have) very good measures to prevent such abuses.

It is not at all clear to me that someone can set up an ATM in a mall or at a train station without obtaining all the necessary permits. It is obvious that there are some loopholes in the law that individuals take advantage of, and given the high fees that crypto ATM devices have (5-10 +%), it is not difficult to imagine how much profit there is.


From the beginning of this year, German banks (https://www.ledgerinsights.com/digital-asset-custody-forty-german-banks-cryptocurrency/) have the opportunity to apply for a license to operate with cryptocurrencies (sell, store, open crypto accounts), so perhaps it is no wonder that they want to get rid of illegal competition. Big fish always eat small ones anyway, although everyone should have the same conditions to operate in a particular market.

What did you expect though? It's going to be the same with unlicensed anything. Running bitcoin ATMs or ATMs in general is a business; Not because it's bitcoin related it doesn't mean that current laws wouldn't apply to it.

On the contrary, it makes bitcoin really favourable for average joe if government like Germany are going to regulated it. And I don't think this is enough to say that it attracts negative public perception.

It's business, any country will shut down anything that is deem illegal, and bitcoin ATM's are no exceptions. The thing is how it is easy to setup a bitcoin ATM, I think ATM manufacture should have a duty to at least check those people who are going to acquire their hardware, check the locations and if they comply to the regulatory body before issues the hardware itself.

So this means it is allowed to run an ATM machine in the country as long as it's license?
Why are ATM owners not securing their business with license, they are putting their business at risk with their action.

When the government regulate, that means everything should have a license before they can operate, and this is a money thing, AMLC's eyes are looking at them.

Unlicensed Bitcoin ATMs are potential scams that could steal the Bitcoins of many people.
However,the regulations regarding ATMs are way too strict,so the small businesses can't comply with the rules and only the big banks and companies dominate the ATM business,which isn't fair.
The rules should be changed,so the entry barrier for small companies in the ATM business can be lowered and,on the other hand,the ATM customers will be protected from scammers and fake ATMs.
Like one banker said back in 2009:"We don't need more rules.We need better rules"

Illegal companies can do shady stuffs and they prepare things to avoid their loses (from government shutdowns) than the profits they can get and run away with stolen money from their scams. I agree that ATMs are not like a virus so they can easily be detected by locals, by government staffs. Therefore, if one company decides to do hidden and unlicensed ATMs, they do have bad intention behind. Furthermore, Germany is not a nation from a third world where law regulation is bad.

Why do people react to due process in cryptocurrency? I appreciate most of the posts that after the OP to support Legit business especially in crypto. The high members understand the trend in the space and appreciate the control that government brings some times. Germany is one of the conservative government with reasonable leaders, they are not greedy and they allow technology that is revolutionary.

news like this has been reported before in Australia where unregulated and bitcoin ATM scam were rampant. authorities even found an unlicensed bitcoin atm inside a mall.


for those who are interested in the article here is the link https://news.bitcoin.com/germany-closing-down-all-unlicensed-bitcoin-atms

If they know that it's required to have a license to operate a bitcoin ATM machine, then that's a clear indication that they have bad intention, but maybe there are some who are not aware of the law and they operate an ATM machine in good faith.


Or maybe the regulation is not clear, or lack of regulation, that's what I know.

Either there's shady things that those facilitator are doing or they can't give what the government
are asking for them.

As based from the article bitcoiners around Germany are  opposing this BaFin since the law according
to them  are too stringent for small enterprises.

The government implemented rules to regulate this kind of business, they are avoiding illegal activities
making sure that using bitcoin is still under their radar.

It's not really surprising since the Bitcoin ATM was illegal so it should not operate so the government should shut it down.

What's really surprising is how they open Bitcoin ATM without even getting permission or license for it, Still, the news could easily turn bad for every people who don't know bitcoin since it is again involved in some illegal activities. Most of the people is having a bad impression to bitcoin because of this news.

Because once they are asking for the license they must follow the rules and most operators don't want to follow those for multiple causes, some of them, fortunately just a  minority,are installing those just as money laundering scheme, dirty cash gets is deposited there, the company deposits it to a bank and then it's all clean, it cand be sent to an exchange, get more bitcoins and redo the whole thing. Some are avoiding it just because they are not willing to disclose their profits, some are plain stupid and think they can get away with it.

That's why some ATMs get shut down, that's why some exchanges flee from a country toa more relaxed jurisdiction and so on.
The same companies that scream about laws and regulations to boost their business are the same that are trying to ditch them to avoid paying taxes.


Stop seeing conspiracies everywhere, this ain't 2012 anymore, Germany has allowed banks to deal with banks, how the hell are their conspiring against Bitcoin by removing some ATM machines?


The loophole is that to install a machine in a shop or a mall you need two permissions, from the owner of the space, who in most cases doesn't care that much and from the operator of the ATM, which is quite funny. Unlike in the cases of traditional ATMs where if you need to install in a mall an ING ATM let's say you needed permissions from the bank, now the one granting you that is yourself. And malls don't really care about it, if they have enough space they will let you install all the shit possible as long as you pay and you have a registered company, registered only and not a licensed money transmitter or something else since it's not any of their business.
Of course, I'm speaking of my own country but I don't assume laws in Germany are much different as we speak of a deal between two private entities that has nothing to do with anything else than a lease of space.

Expect for the government to take action if it's illegal operating. If they were able to able to crack and confiscate multiple ATMs, it means that there's a lot of illegal bitcoin ATMs operating.

If they want to make business with bitcoin ATM, they should have at least know how to follow rules by the government. I mean, having a license to operate is a part of having a business. If they are one of the bitcoin ATM providers in their country, why can't they get a license first so they can operate without having problems with the authorities.

The conspiracy/negativity ideas are nonsense imo - again, this doesn't make Bitcoin seem bad in any way. It's humans doing it, not Bitcoin.. nor did BTC somehow support this.

While it's somewhat surprising to imagine there are many illegally running ATMs in Germany, it doesn't seem like much of a headache for the operator to achieve it. I could bet it would be even easier to run illegal ones here in Romania.

As an addition to what stompix just wrote above: not only do you "grant yourself permission" but you're also able to run your code from start to end, meaning you don't even have to connect anything to institutions such as banks in order to process your txs - making them even harder to be noticed. All you need is the virtual currency (BTC) and some place for cash deposits.

Yes, unregulated means that those ATMs do not fall under any laws, so any transaction made through or profits earned from the ATMs does not need to be declared and no taxes are to be paid (though to be on the safe side, you must declare your profit but you still won't have to pay taxes).
And this is going to be a huge problem. People will then be using those ATMs to launder money and evade taxes. If you read the post properly, you will see that the ATMs in Germany is being regulated now. The person/group operating those ATM were ordered to shut it down or get a proper license. They didn't. Even if they did make a lot of money from the ATMs, they still will have to pay the taxes no matter what. Death and taxes, both are inevitable. You can't any of those.

That negative effects from those people who doesn't understand bitcoin will imply that
this business is illegally done from their place.

There should be a good communication between the government and people who already
embrace bitcoin and make this currency being used and facilitate to their respected places.

Rules needs to be reviewed and needs to assess carefully so both sides will benefits in the long run,
government needs to hear out what the people  are asking in terms of heavy implemented rules.

this is a bad news because there are people that don't follow rules , it's thier fault and why will the government make  the situation less bad ? That will look like they are being paid if they do that but no they are doing their jobs correctly .

It's up to the people around that witness this situation if they think negative or positive , they can ask for the details of what happen to know the real truth

It doesnt matter if the government or the authorities prohibit the operation of ATM that are not in accordance with local regulation. I think the crypto regulation there are quite helpful for crypto user, especially bitcoin, because they can use them if they get permission. If the service provider has received permission from the government, user can enjoy this service as long as it does not violate the rules.

Germany is looking good in terms of cryptocurrency acceptance, I've heard they already have a law with cryptocurrencies and Germans are using it frequently. Shutting down these unlicensed bitcoin ATMs is a normal thing to do by the authority I mean if they aren't licensed, they don't have documents or permit to operate such thing, why would the authorities let them run and evade taxes? I mean it is not just with bitcoin ATMs, I'm pretty sure this all goes the same as the other businesses out there. This is a disrespect in my opinion, to the government, they already turn it on and there are people who wants to do it illegally.  :-\

This is good as it will protect the consumers from shady ATMs.

They can be very fast at times. One way to protect against this is to also punish the entity that accepts the ATM placement.

There is nothing to do but to follow the regulations put in place, this is not really a crackdown as they are not shutting down every single bitcoin ATM they are closing those that are not licensed, I know it is a pain and this is a blow against bitcoin adoption precisely at the moment when the market seems to be gaining some momentum, and while it could be related and it could be a manoeuvre to try to curb that tendency at the end they are on the right.

Bitcoin does not give us a license to not abide by the law especially if you are going to offer services to convert bitcoin to fiat or vice versa.

There is no question with that, of course, it needs a license in order to operate is which the authorities find it missing. What they doing is a fair thing to do and should the owners must have to follow as what it required. It is actually the operator/owner must have to know that and accomplish it before to start. And they also need to understand the situation because they are just imposing as what it is mandated by the law and the regulations must be followed. It is the operator's lapses and they are the only one to blame. 

I really do not see anything wrong in the shutting down of the said illegal and unregulated ATM's. It only means that the German government is serious about Bitcoin and wants to be sure that all cryptocurrency operators will follow the government regulations. Illegal ATM's are simply what it is - illegal. So it is obvious that if there is no sanction from the government then it will be prohibited by the government from operating.

I honestly think that it was a great move by Germany. If they want Bitcoin ATMs to be fully operational in Germany, they have to be registered, licensed and regulated by the government. I think that really makes sense.

Just like here in the Philippines, my friend introduced me to a CEO of a crypto company somewhere in Quezon City. Inside his office, he had like 10 crypto ATMs displayed. The last time I remembered, he told us that these Bitcoin ATMs cannot be fully operational yet, as he needs to comply with the requirements by the Bangko Sentral ng Pilipinas (BSP).

If I want to have my own Bitcoin ATM, I would not hesitate to comply with the legal requirements to make it fully operational in the country.

Like Carlton says, it isn't exactly fresh news. AMLD5 had always been looming and I said in some other thread they had been doing the same in Netherlands. Should have been earlier if not for Covid, which gave them an unexpected grace period.

It could be a slight miswording too, not a ban, but a hold on the machines till they implement kyc/aml procedures. That's how it is in NL.

Well it seems to have taken it’s toll on the number of ATMs available in Germany, according to Coinatmradar. The number of Bitcoin ATMs listed for Germany is currently 15 (https://coinatmradar.com/country/80/bitcoin-atm-germany/). On the second of May 2020, the number was 68 (https://web.archive.org/web/20200502151657/https://coinatmradar.com/country/80/bitcoin-atm-germany/). Quite a drop, and a small number in either case.

@Lucius reported 50 yesterday on his post on this same thread, so I wonder if they’ve cleansed the list over the past 24 hours (unless it was a typo 15->50).

Shutting down all those unlicensed Bitcoin ATMs in Germany are just fine for this serve as regulations to provide people legitimate services to avoid people getting victimized by scams and so that if any issues related to the usage of Bitcoin ATMs can be easily tracked down. I see no problem on shutting down all those ATMs for it is said to be the regulation in the country which is basically needed to be followed. Since it is unlicensed, then it is supposedly not doing any operations for the fact that whether it is a Bitcoin ATM or a fiat ATM, it must be registered for it shows the legitimacy of the ATM itself to provide a safe service for the people using it and to show that they are sincere on providing trusted services so that people will worry less on doing transaction specially working it with Bitcoin. First and foremost if you want your Bitcoin ATMs to become operational you must follow the set rules and regulations to be able to comply to the set standards by the government for they are just wanting a safe service to be provided for the people having legitimacy on it.

I think it's good if public Automated Teller Machines for bitcoin transactions are licensed. I am sure, through all this regulations and registration it is going to make sure that the ATM is well and functioning so that people's funds don't get locked up without them being paid back their bitcoins.

What the German government has done is not wrong, if there is an unlicensed Bitcoin ATM, of course it must be shutdown.
Because it has violated regulations, the German government is doing this not because it is against the spread of Bitcoin ATMs,
but is carrying out applicable regulations in order to protect citizens from scammers. Because every Bitcoin ATM with license is
safer and less risky, because of the protection consumer rights from the German government.

Licensing in Germany is the main thing why Bitcoin ATM is banned in Germany. maybe the company that owns the ATM machine should try to synergize with the government so that it can get a license and be able to set up a bitcoin ATM machine anywhere in Germany

It is very reasonable things that the Germany regulator shuts down the unregulated or illegal Bitcoin ATMs. Moreover, there are many. Additionally, if there have been rules about it, why should be illegal? The strength of the government can really force the companies to make the  ATM legal based on country regulation. In this case, if the ATM is also legal, the users will be safer and believe more on the ATM.  As we can see that the country has welcomed the crypto very well. And if there is a new rule, there should be followed in order to take the responsible and get along for better usage and services.

I think this is a very normal move. The government created laws to protect the interests of the country and the people, but besides, everyone needs to comply with the law. Unauthorized placement of a bitcoin ATM is against the law and it must be dealt with. I think that organizations that install bitcoin ATMs need to get government permission before installation.

Another wrong use of bitcoin adoption that can affect the whole bitcoin community.

This can worsen the bitcoin adoption and make it slower for us to achieve it. They have the opportunity to make more bitcoin ATMs and make it operate properly but the case is not like that. Germany just did their thing here, all of the crypto-related activities should be done legally so that there will be no problem with us using bitcoin.

The owner should comply with the papers, verify it and make it into a licensed bitcoin ATM so that they can have more customers.

Guidelines, rules, and regulations must be observed first and not all countries are given an opportunity to build a Bitcoin ATM, so as much as possible they should follow the laws to avoid struggles like this.

no they are only offenders and they dont care bout the adoption because if they want they will not rush things .

 they will first make sure that everything is legal before the operation of btc atm's   .  its easy to create an atm like that because crypto isnt also complicated  but its hard for it to be approved and not all people have the ability to have it , thats why there are people that installs the atm illegally or on places that are hidden  .

I cannot blame if Germany is shutting all the unlincensed bitcoin ATMs because I know that they have a good reasons behind it. And for the bitcoin ATM owners, it will be good also
if they will make their ATMs legal by filing a license to it so the users will not worry in using their ATMs.

What I see from their actions is that Germany will likely to chase those tax evaders especially if they know that those illegal ATMs are earning a huge amount of profit and for them also
to fight those illegal operators to continue their doings.

Shutting all unlicensed Bitcoin ATMs needs to be done because it violates applicable regulations and is also risky for customers who use it.
I support the German government to take this action, if the German government does not act decisively it could harm customers. Even though
the German government is one of those who accept the presence of Bitcoin, so Bitcoin ATM owners should follow the applicable regulations.
If there are many violations, i'm afraid that the German government is will banning Bitcoin.

Not really surprising as it was the right decision that the authorities must have to do and besides, they just follow what is the rules. This is already happening in other countries, the authorities are now in focus to regulate this thing as they find out that there is a huge growth of crypto machines that have been in question cause of illegalities involve. I supported this one in order to avoid doubts from the community and eliminate those negative reviews toward Bitcoin as a scam.

Common, this ain't 2012 anymore, a couple of illegal ATMs being confiscated in a country won't change a thing, if we exclude the dedicated crypto press I bet you that even 1 in a thousand people outside Germany hasn't heard about this.

Do you think that any currency is hit by such "bad" news? Or if we talk gold, for example, have news about slavery in gold mines and abuse and environmental disaster stopped the need and the usage of it? Or that it makes people care?
Nope, adoption won't be slowed by such a trivial thing nowadays, there are tens of cases with illegal ATMs being shut down, here is Spain (https://news.bitcoin.com/spain-thwarts-bitcoin-atm-scam-prompting-regulatory-debate-worldwide/),  USA (https://news.bitcoin.com/us-25-million-bitcoin-atm-operation-seizes-17-machines/),
did it change your perception? If no why would it change it for other people?




Indeed they were 50 less than a week ago, there is an archived page of the 12th, but not on the country itself but on the list of countries
https://web.archive.org/web/20200812064310/https://coinatmradar.com/countries/
Unfortunately no archived page of the city by city to see which one has been taken out.

Without having proper permission fro the government it is not possible to operate ATMs because it is related to banking so if they want to make profits in this way then better to go with all the improvements. ANd the service provider should oppose only if the ATMs which are regulated are getting closed. ::)

Don't remember about Germany specifically, but in other countries shitcoins.club generally has lower fees (even negative fees in some rare instances). I have a hard time imagining them not paying the appropriate taxes, too.

And two weeks after your post Germany only has 15 Bitcoin ATMs left (they used to have more of them earlier this year e.g. (https://web.archive.org/web/20200422213248/https://coinatmradar.com/countries/)) If a country of 83 million has less than a quarter the number of BTC ATMs that can be found in the nearby Czech Republic (population of less than 11 million), then that's generally a strong suggestion that the laws that are in place in Germany are disproportionately oppressive.


Average Joe (or Joseph) now has only 15 ATMs to choose from, in Berlin for example, there are only two left and they charge 10-15% to buy BTC.


It wasn't illegal until Germany adopted new regulations at the beginning of the year which proved overly restrictive for most operators. BTW, dogmatic servility of the kind you're proposing has never done anyone any good.


If the requirements to obtain the license are so stringent that the number of ATMs dips from 69 to 15 in a matter of months, and the ones that are left have very high fees, then the problem clearly lies in the regulations being overly burdensome.


Most (if not all) ATMs that were seized weren't 'shady' at all. Now the consumer has significantly less options, and the few that remain are more expensive to transact with and come with more restrictions.

Of course it's may be a real true story) and of course in case there was violations in the registration and installation of this ATM equipment, of course this activity should be stopped according to the jurisdiction of country. But I think that there is something more hidden behind this criminal story. It looks a bit strange that so many ATMs were opened and has not been the point of concern to the government and governmental institutions earlier, while it was the process of installing of this equipment. Because it is not just a box, that you can just put somewhere in the supermarket or on the street. More over in Germany or in California.

The crackdown on illegal and unregulated bitcoin ATM is understandable because as a government, you do not want your taxes/lifeline of your country getting cut short. In my opinion, the crackdown was not necessary, maybe make amends and make this illegal and unregulated ATMs into legal and regulated one. I do not know about the whole story but I think they are targeting small time businesses which is pretty scummy in my vocabulary, compromise could have make things better but my opinion is not worth a salt for their government plans.

If they have find out any bitcoin manipulating machines that will cause harm to people they should banned it immediately without waiting for proper investigation, and besides all these cryptoccurrency machines have to have a central code that will indicate if the machines is coat and produce from the right source,because looking at all these bitcoin machines it might diverts bitcoin transaction to another direction.
I will like let all bitcoin machines irrespective the country situated to have operating license and authentication code for verification.

After all, the government is very interested in all regulations atm bitcoin that can be regulated in such a way because the prospect exists, of course, they know that not a little circulation occurs and if the government can take taxes from each transaction it is an advantage in itself. I do not fully follow what caused all this to happen only the government can provide an answer.

It's good for the legal owners of ATM that the authorities are doing this, in fact this is protecting their business because if there are no illegal ATM in the country, People will use the legal ones and legit owners and the government are the one who will benefit for this actions, other countries should follow the lead of Germany in dismantling illegal Crypto ATM.

everything that Illegal must be cracked down and that is the Universal law,Because even if this helps Crypto people still they are not paying what requires by the law.
And they are the only one who benefits from this
(the ATM owners) which is unfair for every businesses that has been asked to Pay taxes while this operator is seemingly taking advantage of the situation
and these Bitcoiner are supporting the illegal use of ATM?
That is exactly my Point mate,How about the legal operator whos paying right taxes while there are these illegal one who's just taking profit out of their business
without spending evena penny.

Probably these ATM machines are owned by a rich daddy in the government somewhere around the country :D. This can only be a business from the rich just to boycott the tax process in the country, also, not to make known his or her identity. The government should by matter of urgency shutdown the entire illegal ATM machines around the country and confiscate them.

This is a key to prevent having a bad reputation towards bitcoin.

These unlicensed bitcoin ATMs can be the source of bad information towards the public and it will probably have a huge impact in the economy. German government should be proud of how their authorities act towards this kind of issue regarding cryptocurrency. I just don't understand why people are settling with this kind of illegal investments where they will have nothing but losses in the end.

It's important that everyone should lend voice to this. When you want to do or engage in a business, do it within the purview of the law so you don't run into problems. The government is not saying you shouldn't but ensure you register while you may not agree as to the reasons but for your own benefit and that would he patronising your business, it's important to do as failure to do that could put you, your client, your community or even the country in a risk should you manage to transact with enemies of the state who cared less about collateral damages.

The country and the government of Germany is just doing the right thing that must be done on tracking down and shutting down those illegal and unregulated Bitcoin ATMs for this is done for the sake and welfare of its people not to get victimized by scam because certain regulations are being implemented in the country to keep a safe track of those licensed to operate Bitcoin ATM because if you are really sincere on providing services why would you not get your Bitcoin ATM be registered for legalization so that the government will know the authenticity of your operation.

This must be known by the operators that even out of Bitcoin premises, any businesses and operations that are intended to serve people must be legalized to prove its regularity based on the standardized protocols that is on the law basically to protect the welfare of the people. Shutting down those illegal Bitcoin ATMs and doing operation against the regulation is just right to be closed until they come up providing needed legalization to resume their service operations.

It’s depressing that the overwhelming majority of posts in this thread are praising the crackdown in lockstep.  Worse is the chorus of virtue-signalling about the bogey of people so evil that (gasp!) they potentially may not pay taxes, if they don’t have a nicely licenced “KYC/AML” financial mass-surveillance régime watching them at all times.  What unspeakable sin!



Keywords rendered in bold.

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Quote from: Voltaire ($CURRENT_YEAR version)

Il est bien malaisé (puisqu’il faut enfin m’expliquer) d’ôter à des insensés des chaînes qu’ils révèrent.  tell sheep to be “free”, LOL ::)

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I give up.  If people on the Bitcoin Forum, of all places, demand that governments close those awful loopholes which may let people use their own money without permission, there is not much hope.

Quote from: dansus021 on August 14, 2020, 10:30:28 AM

that mush be rich person by now unregulated things mean no taxes right

Quote from: stompix on August 14, 2020, 12:22:13 PM

some of them, fortunately just a  minority,are installing those just as money laundering scheme [...]

The same companies that scream about laws and regulations to boost their business are the same that are trying to ditch them to avoid paying taxes.

Quote from: adzino on August 14, 2020, 01:48:30 PM

And this is going to be a huge problem. People will then be using those ATMs to launder money and evade taxes. [...] Death and taxes, both are inevitable.

[N.b. the absurd brainwashing cliché.]

Quote from: Sanugarid on August 14, 2020, 02:43:58 PM

I mean if they aren't licensed, they don't have documents or permit to operate such thing, why would the authorities let them run and evade taxes?

Quote from: bonjouros on August 17, 2020, 04:46:17 PM

chase those tax evaders

Quote from: Lorence.xD on August 29, 2020, 05:19:17 AM

The crackdown on illegal and unregulated bitcoin ATM is understandable because as a government, you do not want your taxes/lifeline of your country getting cut short.

[!!!]

Quote from: lepbagong on August 29, 2020, 07:27:49 AM

After all, the government is very interested in all regulations atm bitcoin that can be regulated in such a way because the prospect exists, of course, they know that not a little circulation occurs and if the government can take taxes from each transaction it is an advantage in itself.

Quote from: carlisle1 on August 29, 2020, 09:39:15 AM

That is exactly my Point mate,How about the legal operator whos paying right taxes while there are these illegal one who's just taking profit out of their business
without spending evena penny.

Quote from: Sebas.tian on August 29, 2020, 09:51:34 AM

Probably these ATM machines are owned by a rich daddy in the government somewhere around the country :D. This can only be a business from the rich just to boycott the tax process in the country, also, not to make known his or her identity. The government should by matter of urgency shutdown the entire illegal ATM machines around the country and confiscate them.

/me checks the address... yes, this is bitcointalk.org.

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May I most modestly propose the following additional talking points for the majority of tax-paying animals in this thread:

• We need a licencing requirement for all cash transactions of any kind, with “KYC/AML” rules that require all participants in a cash transaction to report the transaction and the identities of their counterparties.  This will help to protect consumers from shady cash deals.  After all, who uses cash but criminals?
• Governments must seize of all real, tangible money with intrinsic value (https://bitcointalk.org/index.php?topic=2552381.0).  Of course, all goodthinkful citizens (https://en.wikipedia.org/wiki/Slaves) must not want evil tax evaders and other sundry Horsemen to hide their money in unlicenced, unregulated, untraceable gold coins.
• Bitcoin needs taint tracing and coin blacklisting, as first persuasively advocated by the visionary Mike Hearn.  And we must ban the Lightning Network, which, as “Dr.” Craig Faketoshi Blight so helpfully pointed out, removes from the blockchain the information that governments need to trace financial transactions.
• Bitcoin ATMs must require a scan of an ID card, a fingerprint, and a DNA sample.  This must be enforced by the enforcement of ATM licencing.  All objections will be stopped by screaming the magic words, “tax evasion” and “money laundering”.  What, do you want for tax-evading money launderers and other Official Bogeymen to be able to swap between BTC and local fiat anonymously!?
• Utopia:  The cashless society!  With all financial transactions of any kind under proper supervision, wicked wights will find it impossible to commit tax evasion and other unapproved uses of money.  Anybody who dislikes this can feel free to starve, for want of any unsupervised, unregulated, unlicenced means to buy food.  What, do you want for tax-evading terrorist financiers, child dealers, and drug pornographers to be able to buy food anonymously!?  Indeed, what kind of political dissident ungoodthinkful unperson would even want to buy food without showing ID plus proper documentation of source of funds and payment of taxes?

Here’s to a future of financial surveillance so total and inescapable that nobody will even dare to think about unapproved use of money!

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P.S., at risk of in certainty of wasting even more of my life by arguing sound reason to such graceless witlings as quoted in the above litany, here is a protip:  In terms of taxes, both rich people and professional criminals will not be significantly affected by this.  Taxes are primarily paid by the poor, and most of all, by the upwardly mobile middle-class.  Rich people have lawyers and accountants to minimize and avoid taxes “legally”, while professional criminals have black-market infrastructure and underground connections to avoid taxes “illegally”.  It is only people with neither fancy lawyers nor black-market access who cannot escape being crushed by a system that promises everybody free ponies through the deadly cycle of creating inflationary debt-based money, then taxing the beasts of burden who are forced to use it.

Money printer go brrr.  Taxes are the “lifeline of your country” (quoted above).

Thus is real wealth drained from the overwhelming majority of people into the pockets of the richest 0.0001%, as stupid poor proles cheer the abject impoverishment of anybody who has anything more than basic animal subsistence.  This must be terribly amusing to the 0.0001%.  After all, Das Kapital is the Holy Writ of plutocrats.

Naturally, I expect that what I just said was a waste of words, and will have no impact whatsoever.

The day before that happens is the time to dump all your “crypto”.

Fortunately, I doubt that such a tyranny will be so easy to impose.  There still exist smart people dedicated to permissionless (= unlicenced) innovation.

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Seriously, WTF is with the attitude on this thread?  I had thought that all the people who wanted “permissioned” nonsense were in XRP, various ERC-20 shitcoins with permissioning in their contracts, etc.

For “permissioned” uses, the POW blockchain is the dumbest technology ever invented:  Slow, inefficient, not scalable.  A non-Byzantine distributed consensus based on some Paxos variant, or Raft, with hash-chained transaction records digitally signed by a central authority (or federation of trusted authorities) would be incontestably more efficient, and provide an unimpeachable audit log.  Or, just use an ACID database on a big bank’s mainframe.  Use Paypal.

Why are the people who want licencing and regulation even interested in Bitcoin?  SELL.  Go away.  Bitcoin has nothing to offer you (and you have nothing to offer Bitcoin).

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Edit:


Untraceable money is the status quo ante with respect to modern technology:  No government in all of history has ever before had the ability to track and trace all financial transactions!

Imagine if the Soviet Union had had that ability.  Now, imagine that being global.  Welcome to the future.

I am informed that in China nowadays, even street vendors selling snacks accept only electronic payments.  Of course, all of these systems are licenced and permissioned; and all parties to all transactions are clearly identified.  Know Your Customer.

Good luck thinking unapproved thoughts, when with the press of a button, the government can shut off your ability to buy a trifling snack—and instantly pinpoint your location if you try.

Aristotle was right when he observed that some people are natural born slaves, and can never be anything but.  Unfortunately, that seems to be most people; and those praising licenced-KYC-AML-everything on this thread are too stupid to realize that somehow, some way, for thousands of years after the invention of money, governments survived and societies functioned when exchanges of money were made via bearer instruments that were anonymous and untraceable by default.

The push to make all financial transactions transparent and traceable is based on the same false premise as used by e.g. American FBI whines about “going dark”.  Technology has given the State capabilities of mass-surveillance and total control that never before existed!  When other technologies restore some modicum of the individual privacy and freedom that existed in every kingdom in history, the agents of the State turn around and complain that they are losing their ability to suppress divers bogeys.  Their narrative is backwards and upside-down:  Privacy-enhancing technologies (including untraceable electronic money) bring us closer to what was always the status quo until just a few decades ago.

license is very important because the government needs an official profile of the company that issued the ATM to minimize fraud from irresponsible parties
in my country too, bitcoin ATMs are shut down for the same reason