TDC drafted a response to Senators Durbin, Blumenthal, Warren, Smith, Whitehouse, Welch, and Reed’s letter on perceived risks Bitcoin ATMs (BTMs) pose. The industry shares the Committee’s concerns about fraud prevention and consumer protection and our rejoinder highlights some of the proactive measures that the most responsible operators already employ that go above and beyond the regulatory frameworks that govern BTM operators at both the federal and state levels, emphasizing their commitment to combatting fraud through enhanced due diligence, real-time customer support, and collaboration with law enforcement.
TDC applauds government efforts to bring attention to this important issue and encourages ongoing collaboration to ensure that Bitcoin ATMs are a safe and secure part of the digital asset ecosystem. By working together, the industry and policymakers can continue to build a balanced framework that protects consumers while fostering innovation and access.