The Florida Office of Financial Regulation has paved the way for a Wyoming-based company, Bitcoin National ATM Network, LLC, to operate bitcoin ATM kiosks in the state.
An order signed on August 9th confirms that the company is not required to be licensed as a “money transmitter” to operate in Florida.
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The company had previously petitioned the state for this confirmation, highlighting its plans to install kiosks that facilitate cash exchange for Bitcoin.
They argued this move would ensure legal compliance and stimulate economic growth and the virtual currency market in Florida.
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The petition also clarified that most customers use these ATMs for purchasing small to moderate amounts of bitcoin. The process involves scanning a virtual wallet on a cellphone at the kiosk, inserting cash, and receiving bitcoin directly to their wallet address.
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