The state Office of Financial Regulation has issued an order that could help a Wyoming-based company operate bitcoin ATM kiosks in Florida.
The order, signed Aug. 9, by Office of Financial Regulation Commissioner Russell Weigel said Bitcoin National ATM Network, LLC would not need to be licensed as a “money transmitter” to operate in Florida. The company submitted a petition July 2 seeking confirmation that it would not need such a license.
The petition said Bitcoin National plans to operate kiosks in Florida that would exchange cash for bitcoin.
“This confirmation (of not needing a money transmitter license) will not only ensure compliance with Florida law but also support the expansion of Bitcoin National's operations into Florida, contributing to the state's economy and fostering the growth of the virtual currency marketplace within a regulated framework,” the petition said.
It said the “majority of customers seeking Bitcoin ATM services are individuals purchasing small to moderate amounts of bitcoin.”
The petition said customers would scan virtual currency wallets on their cell phones at the kiosks. They then would insert cash, and the kiosks would send bitcoin to their wallet addresses.
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