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ChainBytes teams with BTM Compliance to boost AML/KYC regulation compliance

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December 21, 2021

ChainBytes LLC, a bitcoin ATM manufacturer based in Whitehall, Pennsylvania, has teamed with BTM Compliance LLC to help improve anti-money laundering/know-your-customer compliance processes for bitcoin ATM kiosks, according to a press release.

The collaborative effort seeks to study and recommend enrichments to bitcoin ATM operating systems to improve data management, transaction monitoring and operator compliance with federal AML/KYC regulations.

Statistics show the adoption of bitcoin ATMs to be growing at a rapid pace. Recent estimates indicate there are now over 29,000 bitcoin ATMs in the U.S., according to cointatmradar.com.