Bitcoin Depot, the largest bitcoin ATM operator in North America, filed for Chapter 11 bankruptcy protection Monday and will wind down its network of more than 9,000 ATMs, it said.
Bitcoin Depot CEO Alex Holmes, in a statement Monday, faulted a regulatory landscape he said is becoming markedly unfriendly to bitcoin teller machine companies.
“States have imposed increasingly stringent compliance obligations, including new transaction limits, and in some jurisdictions, outright bans on BTM operations,” Holmes said Monday.
Indeed, Tennessee in April became the second U.S. state, following Indiana, to outlaw BTMs; that ban goes into effect July 1. A similar ban is being…