Business
February 25, 2026
Bitcoin Depot, one of the largest US-based crypto ATM operators, has initiated a new crypto ATM ID check in a bid to curb fraud. From now on, users will be required to verify their identity for every transaction. According to the press release, the changes are being rolled out in a phased manner and will be deployed across all Bitcoin Depot ATMs in the U.S.
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How Mandatory Crypto ATM ID Checks Redefine U.S. Compliance Rules
The latest Bitcoin Depot ID requirement comes amid reports of increasing crypto-related scams targeting the elderly. In a 2024 report, the FBI revealed that total fraud losses for the year totaled $9.3 billion. People aged 60 and older reported the highest number of complaints and losses.
The new crypto ATM compliance aligns closely with tightening U.S. crypto ATM regulations. In the recent past, lawmakers have raised concerns about fraud, money laundering, and scams targeting the vulnerable.
By enforcing identity verification for every transaction, Bitcoin Depot is implementing a mandatory KYC framework to strengthen the network’s security and integrity while protecting users. Earlier, users only had to undergo an identity check for the initial transaction.
Talking about the new requirements, Bitcoin Depot CEO Scott Buchanan said,
“Bitcoin Depot has always prioritized compliance and consumer protection, and it’s crucial to our operations that we demonstrate proactive leadership in preventing fraud and building trust with our customers.”
Buchanan added,
“Continuous verification allows us to detect suspicious activity based on customers, locations, or transaction amount before a transaction is approved. By requiring identity verification at every transaction, we are taking an additional step to strengthen security, protect customers, and maintain the integrity of our services.”
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Bitcoin Depot operates over 9000 kiosks globally and was the first U.S. Bitcoin ATM operator to go public. By bringing in an ID requirement, Bitcoin Depot is trying to position itself as a responsible operator. It will be interesting to see whether these changes affect Bitcoin Depot’s stock price, which has dropped 25% in the past month.
