Bitcoin Depot enhances compliance program with ID verification

Bitcoin Depot (BTM) announced the recent roll out of new compliance standards that make it one of the only operators in the industry to require customers to provide identification before transacting for any amount of money. The initiative applies to all new and existing customers, ensuring they benefit from the highest level of protection, well beyond what is currently required by federal law. The Company has also launched additional protections for seniors, reinforcing its leadership in consumer protection and responsible access to digital assets. Building on its existing protocols, including robust Know Your Customer, Anti-Money Laundering safeguards, and blockchain monitoring, the Company’s expanded identity collection and verification requirements further separates Bitcoin Depot from the rest of the industry and demonstrates its leadership in elevating the standard for compliance. Collecting this information enables the Company to strengthen its compliance framework and ensure greater protection for customers against fraud and money laundering risks. The Company has also reinforced its protections for older adults, adding additional protections to identify and prevent potential scam activity. These safeguards reflect Bitcoin Depot’s continued investment in compliance and its commitment to protecting consumers.