Cryptocurrency Automated Teller Machine (ATM) installation advocated by Texas legislator in federal structures.
Here's a rewritten version of the article:
Crypto ATMs on the Horizon for Federal Buildings?
Texas Representative Lance Gooden has raised a unique proposition, urging the General Services Administration (GSA) to consider setting up cryptocurrency Automated Teller Machines (ATMs) in federal buildings across the US.
Gooden's reasoning? It's about embracing innovation and catering to a swelling section of Americans diving into digital assets. In a missive penned to Acting GSA Administrator Stephen Ehikian on May 1, 2025, he argued that such a move would underscore the government's commitment to innovation in a safe and responsible manner.
This proposal echoes former President Donald Trump's focus during his campaign on boosting US superiority in cryptocurrency and blockchain technology. Gooden highlighted that this move aligns with Trump's vision of placing the United States at the forefront of the crypto landscape.
In his letter, Gooden insists on stringent identity verification, transparent fee structures, and adherence to anti-money laundering regulations. He also underscored the importance of a cooperative effort among regulators, private sector technology providers, and compliance experts to safeguard consumers and instill trust.
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Crypto ATMs have been on the rise, but they've also caught the attention of regulators due to potential fraud risks. Law enforcement agencies have pointed fingers at these kiosks as potential channels for scams targeting vulnerable users.
However, Gooden's proposal doesn't dismiss these concerns. Instead, it encourages the GSA to establish robust operational guidelines to manage such risks.
By integrating crypto ATMs into federal spaces, Gooden posits that the government can offer both practical financial access and public education on digital assets, particularly in underprivileged communities. As of now, the GSA hasn't publicly commented on the request.
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[1] - As of the latest available information, no response has been made public by the GSA regarding Gooden's proposal.[3] - Source 1: [link to a newspaper article about Gooden's proposal][4] - Source 2: [link to a news report about Gooden's proposal]
- The proposal by Texas Representative Lance Gooden to install Bitcoin ATMs in federal buildings could potentially boost the crypto finance business, aligning with former President Donald Trump's vision of advancing US dominance in blockchain technology and cryptocurrency.
- The tech-driven innovation advocated by Gooden could see federal buildings becoming hubs for public education on digital assets like token and DeFi technology, benefiting underprivileged communities.
- Tensions exist in the crypto sphere as regulators, such as the UK's financial regulator, consider restrictive measures like debt-fueled crypto buying bans, while technology providers and experts look for ways to safeguard consumers and ensure transparency in transactions.
- To effectively manage risks associated with crypto ATMs, Gooden emphasizes the importance of enforcing stringent identity verification, adherence to anti-money laundering regulations, and transparent fee structures, as these kiosks proliferate in the ICO-funded and exchange-based crypto market.
