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Spanish Police: Bitcoin ATMs a Blind Spot for Money Laundering Laws

Spanish Police: Bitcoin ATMs a Blind Spot for Money Laundering Laws

Spanish law enforcement pointed out that Bitcoin ( BTC) automated teller machines ( ATMs) show a gap in European Union’s Anti-Money Laundering ( AML) regulations, Bloomberg reports on July 11. Per the report, Spanish police uncovered a local gang that used Bitcoin ATMs to transfer more than 9 million euros ($10 million) for drug traffickers in Colombia and other countries.