The largest operator of Bitcoin kiosks in the U.S. is shutting down amid increased regulatory scrutiny of the role of “crypto ATMs” in facilitating scams, according to news reports.
The Atlanta-based Bitcoin Depot announced it had filed for Chapter 11 bankruptcy protection and has shut down its network of kiosks, the crypto industry news site CoinDesk reported. Bitcoin Depot had more than 9,000 kiosks in operation last year in the U.S., Canada and Australia.
The company blamed state regulation for the decline in its business model. At least 29 states have imposed restrictions on convertible virtual currency kiosks like those operated by Bitcoin Depot, with Indiana and Tennessee recently banning the machines entirely.
The FBI’s Internet Crime Complaint Center received more than 10,956 complaints involving CVC kiosks in 2024, with reported victim losses of approximately $246.7 million.









