The following is an excerpt from an article published in 99Bitcoins in which BitAML founder, Joe Ciccolo, provides a beginner’s guide to operating a compliant Bitcoin ATM business.
Ordering and taking delivery of your terminal should be one of the last steps in your business planning. AML compliance should be step one! Yes, that’s right, I said it…“AML compliance should be step one”. All too often, aspiring operators call me because their bitcoin ATM is arriving tomorrow and they heard something about needing AML compliance. Strange as this may sound, it happens all the time. While operating a bitcoin ATM is an exciting and potentially lucrative business, the terminal is not going to make you any money collecting dust in your apartment while you scramble to get your compliance affairs in order.
So, where does a future bitcoin ATM operator begin?…
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