German Federal Financial Supervisory Authority cracks down on illegal bitcoin ATMs.
A lot of people in Germany these days run crazily about a new cheap trick by the BaFin and the try to take down the BTM business. These times a company called "shitcoins club" started an interesting business model leading people in a scam and finally filled up their Bitcoin ATM they do run not only in Germany. It's one point to run unlicensed machines and make a good deal for everyone. But if you scam people it should be clear that they will open a class action lawsuit against you because they are disappointed. However, the business owner was forced to shut down his business but after a short while, he continues.
In addition, Shitcoins Club is currently offering bitcoin ATMs in a number of other European countries, including Poland, Spain, and Italy. After the company resumed its operations in Germany, it opened over 16 functioning BATM kiosks within the country. This time, the regulator is not providing new warnings. Instead, it cracked down on the firm and its kiosks, causing other such operators to be a lot more cautious.
So if you want to run a BTM do not list him officially. Use it only with a trusted friends list. Do not have a service number on the machine. Or anything who can identify you. The fight for a free world is the necessary for "illegal" :) BTM. Because BTC is not owned by anyone. So even does the state officials have the right to.
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