Quote from: readysalted89 on February 11, 2018, 12:05:16 AM

Quote from: darkangel11 on February 10, 2018, 09:30:30 PM

Quote from: aso118 on February 10, 2018, 08:30:54 PM

So what if it receives fiat? You could consider them as an advanced vending machine. The problem does not seem to be the receipt of fiat, but the attitude of the income tax department towards cryptocurrencies. I assume they have the usual concerns over anonymity and tax evasion. It could take some time before they get the hang of cryptocurrencies.

A vending machine doesn't operate on high limits like that. What if there was a vending machine that sells gold bars? Would that require a registration? .

There are vending machines that sell gold bars. They don't require registration for small purchases, but you have to register to make big purchases.

https://en.wikipedia.org/wiki/Gold_to_Go#Machines

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Gold to Go is a product brand made by the TG Gold-Super-Markt corporation designed to dispense items made of pure gold from automated banking vending machines.[1] The first gold-plated vending machine, located in the lobby of the Emirates Palace hotel in Abu Dhabi, dispenses 320 items made of gold, including 10-gram gold bars and customized gold coins.[2] There are currently twenty vending machines installed across three continents, with the first vending machine in the United States installed in Boca Raton, Florida in December 2010

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The vending machines are covered in gold leaf, and include a touch screen, cash and credit card slots, and a lighted display showcase. Users must scan identification for purchases exceeding 100 Euro, and any single user may only access the system three times in one day before an enforced 48-hour break to prevent money laundering.

Well, the fact that registration is required to make big purchases pretty much proves the point of the previous poster. Even if a registration was not required, you could argue that there is no possibility of a vending machine to be confused with something else; whereas a bitcoin ATM could very well be confused with a regular ATM, leading users to lose their money somehow.

I think it is perfectly acceptable and positive that these ATMs are regulated, so that people who don't know what bitcoin is don't lose their money and claim that bitcoin is a scam, which would lead to a worse image for bitcoin.