Dubai’s first Bitcoin ATM, installed earlier this week on March 19, was removed just 2 days after its launch, due to lack of AML/KYC obligations for the purchasing of Bitcoin (BTC).
Earlier this week, IIB reported on the launch of Dubai’s first Bitcoin ATM, highlighting its most intriguing aspect — that users could purchase Bitcoin with cash while staying completely anonymous, no questions asked.
We have installed a Bitcoin ATM in Dubai at the Rixos Premium Hotel in JBR, Marina. Located on the Mezzanine (M) Floor.
— Amhora (@amhora_com) March 19, 2019
The ATM was installed in the Rixos Premium, a luxury hotel and wellness center in Dubai’s Jumeirah Beach Residence (JBR).
Users were not required to provide any form of identification or know-your-customer (KYC). All they needed was a Bitcoin receiving address and cash with which to make the purchase. The ATM did not offer a function for users to sell Bitcoin,…