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by pavlov
1329 days ago
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Creating an empty crypto account is just a click away. But, as a new user, how do you move funds into the account? You must go through an exchange which is subject to the same KYC and anti-money-laundering regulations as a bank. So it's not actually any easier. After all, banks can also create any number of additional accounts for you in their internal system once you're a customer. |
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Bitcoin ATMs exist. From what I can make out (IANAL), KYC / anti-money-laundering regulations mostly kick in for turning cryptocurrency into fiat rather than the other way around - which is probably why most Bitcoin ATMs are "buy only".