Bitcoin Depot operates thousands of kiosks in the U.S. that allow users to convert cash into Bitcoin.
Bitcoin Depot, one of the largest Bitcoin ATM operators in the US, has begun requiring customers to verify their identity for every transaction, expanding its compliance measures amid heightened scrutiny of crypto kiosks.
The company, traded on Nasdaq as BTM, said the policy began rolling out in February across its national network. Previously, ID was only required for a user’s first transaction. The new approach aims to curb fraud, identity theft and account takeovers by adding real‑time monitoring to each purchase.
“Continuous verification allows us to detect suspicious activity before a transaction is approved,” said chief executive Scott Buchanan. He described the update as part of the company’s effort to strengthen consumer protection and increase trust.
Bitcoin Depot operates thousands of kiosks that allow users to convert cash into Bitcoin. Since going public in 2023, the firm has emphasised compliance as a core element of its expansion strategy.
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