Post
Topic
Board Economics
Re: Bitcoin ATM Operators in Nevada Requires License to Operate
by
Wexnident
on 29/09/2019, 03:52:16 UTC
US State of Nevada Financial Institutions Division has recently issued a statement concerning the need for the protection of the general interest in view of the increasing adoption of blockchain technology and cryptocurrencies.

The regulator's statement implies that even Bitcoin ATM operators are required to get their licenses before they can legally operate.

According to the NFID,

"Any entity that facilitates the transmission of or holds fiat or digital currency by way of brick-and-mortar,
kiosk, mobile, internet or any other means, should contact the NFID to request a licensure determination."

Well, I really doubt people would trust BTC ATM's when the said operator is an unlicensed one. For the sake of the safety of users of BTC, and for those that are still uninvolved to trust BTC and believe that they can get into it as well, regulations should be applied towards those transactions where a middleman is involved. Besides, without those licenses, scammers would enter the scene and it would basically render the usage of ATMs as useless. Not saying that all things involved in BTC should be regulated, but some should be strictly regulated to prevent problems from arising and help the community develop better. The BTC community shouldn't be run or controlled by the government but should rather cooperate and build a lasting community instead.