US Internal Revenue Service Monitors BTC ATMs

The head of the United States Internal Revenue Service and media representatives had a conversation during a blockchain conference in New York. John Fort noted the current situation has not yet reached the institution of criminal proceedings, but there are still some open cases underway.

The department works closely with law enforcement agencies and organizes careful monitoring of payment systems to identify any illegal activities with cryptocurrencies. According to Fort, the IRS is interested in Bitcoin-ATM users - their identity, source of income, as well as payment system operators serving them.

Any company working with cryptocurrency must follow the rules to prevent money laundering. However, not all do it. Something similar takes place the tax payments. Anonymity and transparency of cryptocurrencies give a certain illusion of permissiveness. So there are violations that need to be fought.

Fort also noted that the agency is aware that most of the IRS control methods used are not very popular with the public. As pressure from regulators and the tax service intensifies, US crypto enthusiasts are moving their activities abroad.

“We are pushing people to foreign exchanges,” Fort said during a speech at the conference.

It`s a really larger problem. Only the Radar ATM Coin network has 4,131 ATMs in the United States. Using a device that supports transactions with bitcoin, it is possible to pay for goods and services, change and buy cryptocurrencies for fiat.

The trend towards an increase in the number of cryptocurrency ATMs is observed around the world. The Neironix analytics department investigated this issue and found it to be a sign of the growing popularity of cryptocurrencies.