Bitcoin ATM
Bitcoin ATM Firm ‘Bitstop’ Partners With Simon Malls In US
November 27, 2019
Bitcoin ATM
Bitcoin ATM Firm ‘Bitstop’ Partners With Simon Malls In US
November 27, 2019

Bitstop, the Miami-based Bitcoin (BTC) automatic teller machines (ATM) firm, has partnered with Simon Malls, the largest shopping mall operator in the United States, to install Bitcoin ATMs at several locations. 

On November 26, it has been announced by Bitstop that the firm has already installed Bitcoin ATMs at five Simon Malls locations in California, Florida, and Georgia.

Andrew Barnard, the CEO, and Co-founder of Bitstop said that the machines were installed ahead of the holiday season.

He added:

“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.”

Andrew Barnard

According to Barnard, Bitstop, which claims to be licensed and regulated, plans to grow its teller machine network by over 500 locations by the end of 2020.

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However, the new partnership builds on the firm’s previous installation of a Bitcoin ATM at the Miami International Airport, which it announced in mid-October. 

As it has been reported earlier this month, the number of Bitcoin ATMs installed worldwide surpassed a new milestone. Data at the time showed that there were over 6,000 such machines worldwide, over 65% of which are in the United States.

Likewise, authorities are still increasingly wary of such services. For instance, John Fort, the Criminal Investigation Chief of the United States Internal Revenue Service, recently said that the regulator is looking into potential tax issues caused by Bitcoin ATMs and kiosks.

Thus, in addition to possible tax issues, Fort claimed that the operators of crypto kiosks should be obliged to follow the same Know Your Customer and Anti-Money Laundering rules as other cryptocurrency-related businesses.

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Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs with experience of 1.5 years. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. Her interest lies in blockchain technology and cryptocurrency space. She loves writing about blockchain and other blockchain-related articles.