Bitcoin ATMs Prompt Audit From Prosecutor’s Office of Russian Republic

In Tatarstan, a republic of the Russian Federation, the prosecutor’s office has warned a businessman against violation of the law in connection with his installation of terminals for the exchange of cryptocurrencies, The cryptocurrency ATMs in question had been installed in Kazan, the republic’s capital.

At the Start of the Month, Russian Media Reported That Bitcoin ATMs Had Been Installed in Two Locations in Kazan
The installation of the ATM’s prompted investigations into the terminals on the part of local authorities. The prosecutor’s office of Tatarstan has revealed several determinations that the institution has made regarding the bitcoin ATMs, including that the terminals are owned by a “34-year-old local businessman,” and that the terminals “were installed by a company registered in Ufa, Republic of Bashkortostan.” Officials added that the investigations into the terminals are still ongoing.