A gas station advertising the presence of a bitcoin ATM. Reuters
Gulf Today Report
In far-flung corners of shops, gas stations, delis across US; is a brightly-lit bitcoin ATM, where customers can buy or sell digital currency, and sometimes extract hard cash.
Over the past year, the machines have sprung up across the United States due to the frenzy surrounding crypto trading that sent bitcoin prices over $58,000.
Kiosk operators such as CoinFlip and Coin Cloud have installed thousands of ATMs, scouring areas competitors have not yet reached, executives said.
"I just assumed there was demand and people wanted bitcoin everywhere," said Quad Coin founder Mark Shoiket.
As of January, there were 28,185 bitcoin ATMs in the United States, according to an independent research site. Roughly 10,000 came within the prior five months.
Some machines only spit out bitcoin, some allow customers to invest in other digital currencies. Few of the bitcoin ATMs offer cash.
Fees range from 6% to 20% of a total transaction, said Pamela Clegg, director of financial investigations and education at cryptocurrency compliance firm CipherTrace. Fees vary depending on the location and Bitcoin ATM operator.
“As far as our own cryptomining operations, within the IBC Group, are concerned; we are closing down all our Bitcoin and Ethereum mining facilities across China, and moving our staff to multiple new locations globally, including UAE, Canada, US, Kazakhstan, Iceland and various S.American countries,” Khurram said.
As at 08:33 GMT, the crypto-currency rose by 6.5% to $22,765.
The formal investigation opens a new chapter in the European Union's campaign to address the dominance of US tech firms with Google, Facebook and Apple also regular targets of regulators in Brussels.
The Australian state of New South Wales (NSW), home to the city of Sydney, highlighted its world-class health, medtech and R&D ecosystem at a VIP dinner event held at the Australia Pavilion at Expo 2020 Dubai.
The UAE has successfully enhanced the growth and development of the industrial sector, with the Ministry of Industry (MoI) and Advanced Technology
Aster DM Healthcare, UAE’s largest health-care provider with one of the largest integrated health-care networks in the Gulf Cooperation Council (GCC)