Bitcoin ATMs in Vancouver To Be Banned?

[Indamuck]

Might as well ban cash too if they have this opinion.  Its like people saying guns cause deaths when it is just people using something to do something criminal.  They are probably just looking to tax these machines heavily, its always about the money.

[Nolimitz84]

In case you are given the chance to talk to the mayor and these other officials on the said matter, how would you convince them that their plan to ban bitcoin ATM is wrong?

I'd just say we're living in a time of change.By change, I mean the massive use of cryptocurrency and decentralization.If we want Vancouver to develop and thrive, we need Bitcoin ATMs.

[salty]

If bitcoin ATMs are already installed and in demand in Vancouver,why ban them?You can simply strengthen the regulation of this activity and all.Why complicate things?

[dothebeats]

Perhaps I'd tell them to research the current trends in bitcoin ATMs and implement more security measures before an operator can set one. If they were to ban bitcoin ATMs due to the reason that it can be used for money laundering and other nefarious doings, tell them that even legitimate banks are being used for the same purpose every single day and no one seemed to bat an eye with that. Honestly, banning a single channel wouldn't do so much to prevent the problem of money laundering, and no solution ever will. Heck, even stricter KYC methods won't get anywhere for a well-planned money laundering scheme.

[MonsterV]

Money laundering is endless, but why they only point to bitcoin, isn't there a lot of money laundering done through fiat. I think the policy of the mayor is to discriminate against bitcoiners, and it's true that the existence of bitcoin atm is a legitimate business.

Lucky are those countries who have Bitcoin ATMs in their country. It's just frustrating and disappointing that they're banning it. Just like the banning of crypto in India, some countries are banning it because some people are using it in fraudulent and laundering. If only people know how to use it appropriately.

That is, the foolishness of the government is that when some people make mistakes, others are affected and in fact by banning bitcoin, they still cannot counter money laundering, but the rules are more appropriate than the prohibition on this case.

[BitHodler]

Bitcoin ATMs will always be subject to people gaming their security measures because they're purposely kept low key to not bother people to the degree where they find it too much of a hassle to use them.

Don't forget that these ATMs still charge fees that most people here consider ridiculous. In order to compensate for the fees these ATMs are being set up to provide convenience.

Finding the right balance between security and convenience is what they are after, and this 'testing phase' has unfortunately lead to thieves exploiting the lack of security to double spend or game the verification system.

[graylexstamit]

The life of an investor's crypto will become easier when crypto-currency ATMs and debit cards will be available in most countries. The solution is progressive and shows the willingness of the country's leadership to recognize new technologies. Although it is hard for me to believe that in Canada, a country where favorable conditions for blockchain startups can ban ATMs. I hope this rumors

[krewbfu]

We, as cryptocurrency buyers, are naturally interested in more convenient ways to exchange Fiat as ATMs. But the government is looking at cryptocurrencies from the other side, and so far it sees more opportunities for money laundering. Although new technologies simply show their promise, they are not the reason why there can be crime in the country. It is strange when two factors are tied together and an obstacle to the development of society is created

[bitbunnny]

This is strange thing to do for country like Canada. Since they are not restrictive country I guess there is some reason for such idea. Still ban will not solve the issues whatever they are so they should find some alternative solution.

[fitzhgu]

We, as cryptocurrency buyers, are naturally interested in more convenient ways to exchange Fiat as ATMs. But the government is looking at cryptocurrencies from the other side, and so far it sees more opportunities for money laundering. Although new technologies simply show their promise, they are not the reason why there can be crime in the country. It is strange when two factors are tied together and an obstacle to the development of society is created

When you wonder where money laundering comes from, it means that you are just an honest person. I see prospects that cryptocurrency can give people. First of all, this is the financing option that the bank will never provide, since it is focused on large investors. And cryptocurrencies do not set limits on the amount of investment

[joshy23]

Might as well ban cash too if they have this opinion.  Its like people saying guns cause deaths when it is just people using something to do something criminal.  They are probably just looking to tax these machines heavily, its always about the money.

Figuring it out this statement  gives reason for why the government wanted to do this thing, implementing tax could solve this and allow
the machine to continue, government always find ways to show how to rule inside the country's jurisdictions.

[waitlevvy37]

Cryptocurrency is a step towards improving your financial status. I am sure this does not need to spend years studying complex financial structures. Take for example the platform taklimakan, here I find both materials on learning crypto investing, and ways to plan and develop trading strategies. All in the public domain, which helped in the shortest possible time to understand the basics of cryptocurrency trading. If you pay attention to the continuous improvement of yourself, then you find ways to improve your financial status. And cryptocurrencies here are the assistant

[kreatge]

We, as cryptocurrency buyers, are naturally interested in more convenient ways to exchange Fiat as ATMs. But the government is looking at cryptocurrencies from the other side, and so far it sees more opportunities for money laundering. Although new technologies simply show their promise, they are not the reason why there can be crime in the country. It is strange when two factors are tied together and an obstacle to the development of society is created

The situation with Bitcoin banking in Canada makes you wonder how good conditions there are for investors. I understand the desire of the organs of order to prevent illegal actions. And the cryptocurrency industry has so far shown a large number of examples of fraud. But they also need to understand that by creating restrictions they harm the country's image as an attractive place for blockchain startups

[btc_angela]

We, as cryptocurrency buyers, are naturally interested in more convenient ways to exchange Fiat as ATMs. But the government is looking at cryptocurrencies from the other side, and so far it sees more opportunities for money laundering. Although new technologies simply show their promise, they are not the reason why there can be crime in the country. It is strange when two factors are tied together and an obstacle to the development of society is created

The situation with Bitcoin banking in Canada makes you wonder how good conditions there are for investors. I understand the desire of the organs of order to prevent illegal actions. And the cryptocurrency industry has so far shown a large number of examples of fraud. But they also need to understand that by creating restrictions they harm the country's image as an attractive place for blockchain startups

Funny thing is the government of Canada is using blockchain technology, https://www.cms-connected.com/News-Archive/August-2018/Canada-Using-Blockchain-for-Transparency-of-Government-Contracts. But just like the rest of developed countries, they have crypto but they love the technology behind, how ironic.

[Herbert2020]

We, as cryptocurrency buyers, are naturally interested in more convenient ways to exchange Fiat as ATMs. But the government is looking at cryptocurrencies from the other side, and so far it sees more opportunities for money laundering. Although new technologies simply show their promise, they are not the reason why there can be crime in the country. It is strange when two factors are tied together and an obstacle to the development of society is created

The situation with Bitcoin banking in Canada makes you wonder how good conditions there are for investors. I understand the desire of the organs of order to prevent illegal actions. And the cryptocurrency industry has so far shown a large number of examples of fraud. But they also need to understand that by creating restrictions they harm the country's image as an attractive place for blockchain startups

Funny thing is the government of Canada is using blockchain technology, https://www.cms-connected.com/News-Archive/August-2018/Canada-Using-Blockchain-for-Transparency-of-Government-Contracts. But just like the rest of developed countries, they have crypto but they love the technology behind, how ironic.

banning bitcoin ATMs and generally speaking any actions similar to that has nothing to do with being against bitcoin as some people have been interpreting this news. it is mainly about wanting to prevent illegal activities such as money laundering through these ATM machines that don't have any mechanism to prevent that from happening.
i'd say that is a very good thing actually because it will prevent criminals from entering bitcoin and using it for their dirty money.

[Chikitita2004]

The government may just be planning a better approach on how they can make subjects like bitcoin ATM more safe from how it was before. Besides, i doubt it, they for sure want a piece of the pie. If it is regulated and permitted then there will be no reason for anyone on it not to tax.