Post
Topic
Board Bitcoin Discussion
Re: Spain – busted - Crypto ATMs used to launder narco money on a large scale
by
dothebeats
on 09/05/2019, 16:50:48 UTC
I bet my money on the operator knowing about the money laundering.
Let's be serious, who is laundering money at a 7% fee, tx fee, again BTC > fiat fee.

If one is already profiting a huge sum of amount from an unknown patron/benefactor, it does not matter what that entity does or where the funds come from as long as the operator is making moolah. I don't think the operator knows of the shady activity, but rather choose to not know about it.

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Puts bitcoin ATMs in quite a bad light. This might tighten already existing regulations and prerequisites before setting up a bitcoin ATM. It'll be harder to procure documents and get passed now knowing that such things can be done in a large scale, that's why I've been questioning for quite some time now if bitcoin ATMs are really *that* important in today's society with only a handful really involved in cryptocurrencies at this day and age.