Post
Topic
Board Bitcoin Discussion
Merits 2 from 1 user
Re: Would a non-custodial Bitcoin ATM be possible?
by
Darker45
on 06/08/2025, 01:54:50 UTC
⭐ Merited by d5000 (2)
1. I don't think this is enough for a Bitcoin ATM company to completely do away with KYC. Even with this limited role, I'm afraid they still can't disregard regulations imposed by FinCEN in the US or the MiCA framework in EU. They're still involved in financial transactions.

2. This setup seems to take away the 'automated' in ATM. Imagine loitering around waiting for the confirmation, or going back to the ATM after several hours to get back the cash because the order wasn't filled. I think it defeats the very purpose of ATMs. Such machines are designed for instant transactions. 

3. I think ATMs are designed for smaller transactions. In which case, if I'm not mistaken, you can still take advantage of non-KYC limits offered by certain ATM providers. It may vary according to jurisdiction, but there might still be machines left which only ask for phone numbers for SMS verification. You could use a burner number for that.