U.S. Department of Justice cracks down on money laundering by cryptocurrency ATM

The U.S. Department of Justice sued cryptocurrency ATM operator Athena Bitcoin, accusing it of causing more than $2.4 million in fraud-related transactions between 2021 and 2023. The Justice Department claims that the company's failure to implement appropriate fraud protection measures has resulted in illegal funds being exchanged for Bitcoin without sufficient verification. The case is part of a broader effort to require cryptocurrency businesses to fulfill their anti-money laundering and “know your customers” compliance responsibilities.