Hong Kong Bitcoin ATMs to Stop Selling Cryptocurrency

Hong Kong regulators are tightening their control over the cryptocurrency space. ATMs are also subject to the new anti-money laundering (AML) law. Government Bans Retail Sale of Digital Assets for Individual Investors

Representatives of the Hong Kong Bitcoin Association strongly disagrees with the introduction of a ban on crypto ATMs. In a recent report they said, there are more than 60 ATMs in Hong Kong now that should be removed from the expanded rules.

Association co-founder Leo Wiese said banning ATMs is a big mistake. Strict oversight of cryptocurrencies creates uncertainty for cryptocurrency and blockchain startups.

As for the prohibition of individuals' access to BTC, this is a clear violation of state goals to promote innovative technologies and increase financial inclusion.