Cash-to-Crypto Industry Dominated by ATMs Is a Law-Enforcement Concern: TRM Labs

"While illicit actors look to cryptocurrencies to move funds faster cross-border, crypto ATMs face additional money laundering vulnerabilities due to the use of cash and lack of face-to-face communication or account open controls."

"Since 2019, the cash-to-crypto industry - which is dominated by crypto ATMs - has processed at least $160 million in illicit transactions, according to a study by blockchain analytics firm TRM Labs."

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