Digital mint atm question

Occasionally I get bitcoins from a local digital mint atm. The only thing it has ever required is my phone number. My friend also gets them from the same ATM. Today we both got text messages that said "for your next transaction only, please have a state issued ID with you at our atm." Then an hour later we each received another that said, "to speed up the process text the front of your ID to... and as an incentive you'll receive VIP rates." I tumble all my coin (clearnet wallet > electrum > helix > electrum > market) so I'm probably just being paranoid, but does anyone know if this is just a new requirement for everyone or something they do when they suspect suspicious activity?


Comments


[2 Points] sapiophile:

This is simple, classic KYC/AML legal obligation on the ATM provider's part. That stands for "Know Your Customer/Anti-Money Laundering." Financial and money service businesses in most countries are required by law to do these sorts of things, usually in kind of ill-defined ways, for customers who are transacting a certain volume of money through their services.

Some providers may have a more lax interpretation of their obligation under the law, and some have a more strict one. Some may have once been very lax, but then been investigated or otherwise chastised by regulatory agencies, and then decided to become much more strict.

In any case, yes, this information is being used for Law Enforcement purposes, as was your phone number that was collected earlier, and it is available to government and law enforcement agencies at will, although it may not really end up anywhere of consequence to your freedom without further cause. Maybe.

I believe it is highly advisable for people to take great measures to acquire their bitcoin with very high levels of anonymity. Doing this in most cases involves paying a premium price and potentially some logistical hurdles, at least at first, but I believe it is worthwhile.


[2 Points] tat_tvam_ascii:

Whoever operates the ATM is just complying with AML/KYC rules - you must have hit a limit ($1000/person/day or $1500/person/month, IIRC).

You should not verify, but say you want your cash or your bitcoins back... then get a new burner.

Keep in mind, they likely took your picture as you used the machine as well.


[1 Points] None:

Do you live near an ocean?

This smells phishy...


[1 Points] Trappy_Pandora:

Well are you trying to money launder? Please don't do that, that is against the law.