Bitcoin ATM Company Collaborates With Biggest Shopping Mall Operator in US

Miami-based Bitcoin (BTC) automatic teller machines (ATM) company Bitstop has joined forces with the biggest shopping center administrator in the United States, Simon Malls, to install Bitcoin ATMs at a few areas. 

BitStop revealed on November 26 that the company has just installed Bitcoin ATMs at five Simon Malls locations in California, Florida, and Georgia. Bitstop co-founder and CEO Andrew Barnard stated that the ATMs were installed ahead of the Christmas season:

“With the strategic timing of this new installation of Bitcoin ATMs at Simon Mall locations, customers can conveniently buy Bitcoin while doing their Black Friday and Christmas holiday shopping.”

Bitsop, which professes to be regulated and licensed, plans to develop its teller machine network by more than 500 locations before the end of 2020, as per Barnard.

The new collaboration expands on the company’s past installation of a Bitcoin ATM at the Miami International Airport, which it revealed in mid-October.

As previously reported, the quantity of Bitcoin ATMs installed globally outperformed another achievement. Information at the time demonstrated that there were more than 6,000 such machines around the world, more than 65% of which are in the United States.

All things considered, officials are progressively careful about such administrations. The United States Internal Revenue Service’s Criminal Investigation Chief John Fort, for example, as of late stated that the controller is investigating potential tax issues brought about by Bitcoin ATMs and kiosks.

Notwithstanding probable tax issues, Fort asserted that the administrators of cryptocurrency kiosks should be obliged to pursue a similar Know Your Customer and Anti-Money Laundering rules as other crypto-related businesses.