The IRS is investigating Bitcoin ATMs in the United States.

The Criminal Investigation Chief of the Internal Revenue Service (IRS), John Fort, recently stated that regulatory authorities are investigating potential tax issues arising from Bitcoin ATMs and kiosks.

According to an article by Bloomberg Law, the Internal Revenue Service (IRS) in the United States is collaborating with enforcement agencies to investigate the illegal use of new technologies such as cryptocurrencies. Fort stated, "We are looking at buildings that may or may not be connected to bank accounts. In other words, places where you can walk in, put in cash, and get Bitcoin out. Obviously, the potential use of cryptocurrencies by citizens, the source of funds, and even the operators of these kiosks are subjects of interest and investigation for us." **Wide Range of Services** Based on data from Coin ATM Radar, there are currently 4,129 Bitcoin ATMs and kiosks in the United States where users can buy or sell cryptocurrencies for a fee. Bloomberg reports that there is one such machine in every major city in the U.S. Fort explained that such services must comply with "Know Your Customer rules": "These operators must comply with this rule, which is to make consumers aware of cryptocurrencies and comply with anti-money laundering principles, and we believe that some of them have different levels of compliance with these regulations." He mentioned that cryptocurrency tax issues pose a new emerging threat, as there is a lack of transparency and visibility in many areas of the cryptocurrency field, increasing the likelihood of violations. However, he acknowledged that there have been many similar unresolved cases of non-compliance in their inventory so far. **Cryptocurrency ATMs Require Licenses** Cryptocurrency ATM operators in Nevada now require a money transmitter license to operate. Nevada has changed its regulatory stance on cryptocurrency kiosks, reflecting a shift in the U.S. government's attitude towards the crypto industry. Now, operators not only need a license but also have to pay a $5,000 bond. **Related Reading** - Chinese insurance giant OneConnect applies for IPO in the U.S., continuing investment in the blockchain field - Privacy browser Brave officially launches rewards program on iOS version Join now to receive the most comprehensive information on financial technology, blockchain insights, and industry examples! [Click here for more information](https://line.me/R/ti/p/@ace.exchange)